Bitcoin Price is Going Down With Solid Weekly Red Candles

This is 3rd week that Bitcoin price chart has 3 weekly red candles after consolidation. There was a consolidation at 75-95K USD. Bitcoin price tried to reverse up from this level but it could not.. It was only a bullish trap for bullish investors. It was only a bearish flag pattern.

Here yoy can see weekly chart of Bitcoin price. There is great bearish flag pattern on Bitcoin price chart. Bitcoin price is falling down. There is 200-week moving average that is waiting for Bitcoin price. It may support Bitcoin price.

Here you can see the indicators on weekly chart of Bitcoin price. There is great downtrend line on RSI Indicator. After last touching this resistance, Bitcoin price went down from all time high. There was great negative divergence. Even the top of Bitcoin price going up, price can not go up. This is why Bitcoin price entered bearish trend.

I shared lots of analysis about Bitcoin price chart and said I was waiting for bearish trend. I shared the possiblity. I am sure that Bitcoin price entered bearish season.

Fisher Indicator will reverse down and we will see this indicator while going down. MACD Indicator is also trying to reverse up.

So, it is so possible to see Bitcoin price while touching 200-week moving average. After touching this average, we will see bearish traps and consolidation period on Bitcoin price chart.

We will see..