Bitcoin Price Touched to the Top Line of Monthly Bollinger Bands

Bitcoin price touched to the top line of monthly Bollinger Bands. It is great resistance for Bitcoin. Even lots of investors think that we entered bullish trend, Bollinger Bands top line will stop Bitcoin price and Bitcoin price may go down..

Here you can see monthly chart of Bitcoin. The top line of Bollinger Bands worked as resitance in 2019 and mini bullish trend ended in 2019. I circled the top line of Bollinger Bands in 2019 and mini bullish trend ended after 5 green monthly candles.

Now we are in 3rd monthly green candle. I shared lotf of analysis about Bitcoin price and said December may be the beginning of mini beraish trend.

The top line of Bollinger Bands may stop bullish trend and we may enter bearish trend..

When we look at weekly chart of Bitcoin, we can see same scenario. It says as bullish trend is close to end. Here you can see weekly chart of Bitcoin and Fisher Indicator will reverse from the top..

We are in 6th weekly green candle and we have never seen these candles since 2021..

So, we may be end of bullish trend..

As I said, I shared lots of analysis and said December is important.

We may enter bearish trend in December until halving.

All indicators are on the top and will reverse from the top. So, bearish trend may enter in December..

We will see...

Posted Using InLeo Alpha