After touching the below 90K USD, Bitcoin price went up fast and trying to break up 100K USD level. I shared an analysis yesterday and said;
So, Bitcoin price should break up the resistance. If it breaks up, the downtrend line as yellow may resist Bitcoin price at 100K USD level.
Today is the day of touching downtrend line on daily chart of Bitcoin. There are great resistances on Bitcoin price chart and It is hard to see all time high. Here you can see daily chart of Bitcoin and RSI Indicator. There is great downtrend line on RSI Indicator. It is tested 2 times before. There is great downtrend line on price chart of Bitcoin. It is tested one time before..
So, It may be so hard to break this downtrend lines on Bitcoin price chart.
When we look at the indicators on daily chart of Bitcoin, It seems as being at the beginning of bullish move. Even it seems as beginning, Bitcoin price may not break up downtrend line. The news can not support technical analysis. There are so many bearish news on stock and crypto market now. Market maker use them for price correction on Bitcoin price chart.
So, Bitcoin price may reverse down from 100K USD. If not, Bitcoin price will coninue bullish trend. We should fill our bags with discounted cryptos. I think It may be early to break up.
We will see..
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