Bitcoin Price is Trying to Find the New Bottom

After touching 60K, Bitcoin price went up 20% from the bottom. Even it went up 20%, Bitcoin price is trying to find to new bottom. It is not enough for bearish season. Bitcoin price should make a new bottom.

Here you can see daily chart of Bitcoin price. You can see how Bitcoin took in a few days, after long bullish run. Bitcoin price went down 50% in a few weeks. It was in bullish trend for a few months. You can see the velocity of price drop.

I shared lots of analysis about Bitcoin price chart and I drew my draft. Bitcoin price is moving as my draft.

Here you can see the indicators on daily chart of Bitcoin price. When we look at the indicators, we can say that we are close to bottom for short term.

There is downtrend line on RSI Indicator and It will be broken up this month. After breaking up this indicator, Bitcoin price may go up slowly. We may see short term bullish trend. MACD Indicator is on the bottom and trying to reverse up. If we see a few daily green candles it will reverse up.

But I think we may see another price drop on Bitcoin price chart to find the new bottom. RSI Indicator will go down to new bottom. After this move, RSI Indicator will try to break up the resistance.

So, After breaking down 60K USD, Bitcoin price will touch the new bottom. It may be great level to pick up for short term..

We will see..