Bitcoin Price is Close to Reverse Up

Bitcoin price is trying to find the bottom before reversing up. Bitcoin price went down fast from 80K to 60K. We are close to end of price drop for short term.

Here you can see daily chart of Bitcoin price. Bitcoin price is still below 8-day moving average which is important signal for short term. Even Bitcoin price gor daily huge green candle a few days ago, It could not go above this average. This is why we may see another bearish attack on Bitcoin price chart for short term. After completing this wave, we may see the bottom for short term.

Here you can see the indicators on daily chart of Bitcoin price. There is downtrend line on Fisher Indicator. There is also downtrend line on RSI Indicator. If we see more daily green candles, we will see reversing up on these indicators. MACD Indicator is on the bottom and trying to reverse up.

These downtrend line will be broken up in a few days. After breaking up these resistances, We will see dad cat bounce on Bitcoin price chart. It went down fast. We need a few daily green candles.

If we daily green candles, we may enter possible head and shoulders pattern. This patter will be bearish.

We will see..