Today Bitcoin price touched 68K after trying to break up all time high. It seemed as a retest of great resistance. Even The resistance line supported Bitcoin price at 69K, Bitcoin broke down this support line. It was important because there were both support line and resistance as a support. That means Bitcoin broke down two great support lines..
This is why altcoins are down. They are at great discounted level to pick up. Lots of investors are waiting for 2024 US Election result. That will be main news for market. We will see the future of crypto market after the results.
Here you can see daily chart of Bitcoin. There were lots of uptrend lines on Bitcoin price chart after 74K all time high. All of them is broken down. I drew the same line with same distance of time. I think Bitcoin price will be supported by this new uptrend line.
Here you can see the indicators on Bitcoin price chart. MACD Indciator has great resistance. I showed it lots of times with you. There is the new downtrend line on Fisher Indicator. I warned you Even Bitcoin price seemed as breaking up all time high, It would go down with double top pattern due to MACD Indicators resistance. It worked as well. MACD resisted Bitcoin price chart and Bitcoin price went down.
There seemed the new resistance on Fisher Indicator. We will wait to see breaking up these resistance to see all time high! After the results of 2024 US Election we may see breaking up these resistances..
There is no doubt that we will see at least 100K in a few monhts. I may be great time to pick up.
We will see..
Posted Using InLeo Alpha
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