Bitcoin Price Stucked into Descending Channel

Here you can see the draft I shared it a few weeks ago. When Bitcoin price touched 72K, lots of investors were waiting to see new all time high. I warned you can shared lots of analysis for possible bullish traps. Market maker trapped crypto investors and Bitcoin price went down and lots of altcoins followed it. Bitcoin price stucked into descending channel. We need to see break up or down of this channel to make new analysis.

Here you can see daily chart of Bitcoin. Bitcoin touched the bottom of descending channel. It is 2nd touch. After touching to the bottom Bitcoin went up to 58K. It is being traded downside of descending channel. The middle line of decending channel is the new resistance for Bitcoin price. Will it go up or down?

Here you can see weekly chart of Bitcoin. MACD Indicator reversed from the top yet. It was at same level as 2021. I shared lots of analysis about this Indicators level. It was bearish signal for Bitcoin price when Bitcoin price is at 74K. Lots of investors were waiting to see 100K!

MACD Indicator reversed and need to correction. It may reverse from the bottom in September or October. I showed possible time to reverse. It means, Bitcoin price may be under price correction until this time.

It is possible to see breaking down of this channel. There may be a crash if we see this scenario. Bitcoin may touch 32K in short time. It is important to enter bulish season. Market maker needs to make panic to pick up discounted cryptos.

It will be out of market until this time. I am picking up altcoins slowly.
I am not looking for price. I am looking for the time.

We will see..

Posted Using InLeo Alpha