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Bitcoin Price Supported by 100-Day Moving Average

Bitcoin Price Supported by 100-Day Moving Average

Bitcoin price is going down slowly after making double top pattern at 86K USD. It broke down mini support line at 81,5K USD. After breaking down this support line, it is going down slowly until touching great support level. 100-day moving average is one of great support level on Bitcoin price chart.

Here you can see daily chart of Bitcoin price. This is 4th day Bitcoin price is touching this support line. 100-day moving average supported Bitcoin price succesfully. If it breaks down this major average, 200-day moving average is waiting Bitcoin price to support.

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Here you can see the indicators on daily chart of Bitcoin price. There is downtrend line on Fisher Indicator. We will see breaking up this indicator in a few days. There is uptrend line on MACD Indicator. It may touch this uptrend line. We need a few days to see touching this support line. There is downtrend line on RSI Indicator. We need lots of days to see breaking up this resistance.

So, Bitcoin price needs a few days to finis going down. 200-day moving average may be the last support level.

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If Bitcoin price break down 200-day moving average in the worst scenario, there is uptrend line on Bitcoin price chart. That will try to support Bitcoin price.

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