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Bitcoin Price Broke Up Mini Downtrend Line

Bitcoin Price Broke Up Mini Downtrend Line

There was mini downtrend line on coming from 86K USD level. After touching 86K USD level double top pattern appeared on Bitcoin price chart. After this top pattern, Bitcoin price entered mini price correction and touched 81,5K USD level. It is important support level and It is good to see not to be broken down.

Here you can see daily chart of Bitcoin price. After touching by 81,5K USD level, Bitcoin price broke up mini downtrend line coming from 86K USD level. Bitcoin price may try again to break up 86K USD level. Afgter touching 86K USD last time, we have seen two weekly red candles on Bitcoin price chart.

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Here you can see the indicators on daily chart of Bitcoin price. There is downtrend line on RSI Indicator. There was uptrend line on MACD Indicator and It is broken down. Fisher Indicator reversed up from the bottom.
When we look at these major indicators, There is no bullish trend on the indicator. Uptrend line is broken up. There is great downtrend line. We should wait to see breaking up this downtrend line.

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Even we see bullish attacks on Bitcoin price chart, It will be hard to break up 86K USD level. We may see reversing down again from this level.

We should wait to see breaking up 86K USD level.

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