Bitcoin price broke up downtrend line a few days ago. Even it broke up downtrend line, it can not go up. There may be a problem. Here you can see daily chart of Bitcoin price. There is great support line on Bitcoin price chart. Bitcoin price stucked into low range. We may see big pump or dump in a few days.
I shared a few post about it may be possible to see breaking down of great support line. I am sure that we will not see if there will be no major news on crypto market.
So, Bitcoin price may stay above this great support line a few weeks.
Here you can see the indicators on weekly chart of Bitcoin. MACD Indicators reversed form the top. That is why Bitcoin price can not go up. Lots of crypto investors are waiting for all time high. It is so hard to see all time high in this situation. MACD Indicators should complete correction. You can see what happened before MACD Indicator reversed from the top..
Fisher Indicator is still in correction. There is no signal to reverse up. So, it may take a few weeks.
We should wait until March to see the future. When we look Technical analysis, it shows us the correction on charts. We need good news to reverse up.
We will see..
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Greetings. It seems Bitcoin will stay downtrend for more few days, I am still expecting another pump as well.
I think we are in a correction phase that is not simple, and the weak buying momentum still supports that.
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