Bitcoin Price Resisted by Downtrend Line

Yesterday Bitcoin price was going up. It was close to breaking up downtrend line coming from 108K. A bad news dropped on market and Bitcoin price reserved down after touching downtrend line.

I shared a few posts about this downtrend line. Market maker waited the release bad news on market to reverse down Bitcoin price. He tried to make downtrend line stronger.

Here you can see daily chart of Bitcoin. Bitcoin price stucked between downtrend line and great support line. We will see breaking up or down in a few weeks.

Here you can see the indicators on daily Bitcoin price chart. There are downtrend lines on MACD and RSI Indicators. If they breaks up in a few days, we will see breaking up downtrend line on Bitcoin price chart. Market maker is trying to make fake moves. We should follow these indicators and trend lines.

After breking up downtrend lines, we will focus price target of Bitcoin.

Even Bitcoin price may enter bullish trend, It is still in bearish trend in weekly and monthly chart. It may be only small bullish trend.

We will see..