There are weak candles on weekly chart of Bitcoin. It may be a signal of possible price correction or reversing of trend. I started to share analysis about possible price correction on Bitcoin price chart. It is one of my point that I am waiting for price correction.
Here you can see weekly chart of Bitcoin. There are weak candles on weekly chart of Bitcoin. you have seen these weak candles at 2021. You can see what happaned after seeing these candles. It may be the reason of price correction. Possible 6xK USD price target may come after possible price correction. We need to see daily or weekly close below ascending channel on Bitcoin price chart.
Here you can see the indicators on weekly chart of Bitcoin. This is why I am waiting for price correction Bitcoin price chart. There is negative divergence on RSI Indicator. RSI Indicator should go uo above last high.
Fisher Indicator is on the top. It is close to reverse down. If it reverses down we will enter bearish trend for midterm.
MACD Indicator is also at the beginning of reversing. There is great resistance on MACD Indicator. It will touch this resistance in a few weeks. 2021 was the record high level for weekly chart of MACD Indicator. It may be hard to break this resistance.
These are major reasons that I am waiting for price correction.
Lots of investors think that mega bullish season will continue for 3 months. I don't think like that. I am waiting for price correction before mega bullish season.
Market maker always does fake moves. While everyone is waiting for mega bullish season, market maker may enter price correction. We should be careful.
We will see..
Posted Using InLeo Alpha
Congratulations @chorock! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 220000 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out our last posts:
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.