Bitcoin Price Started the New Year With Green Candles

Today is the 2nd day of the year and Bitcoin has 2 daily green candles. Bitcoin price was into triangle before the beginning of the year and It may break up the top line of this triangle. Bitcoin price is still in decision period to go up or down. We may see bullish or bearish traps in a few days.

Here you can see daily chart of Bitcoin price. After supported by the bottom line of this triangle, Bitcoin price is going up. It is still close to the bottom line of this triangle. If it breaks down, Bitcoin price will start to reach the price target of beraish flag pattern. If not, Bitcoin price will break up the triangle and It will go up..

Here you can see the indicators on weekly chart of Bitcoin price. MACD and Fisher Indicators are on the bottom and trying to reverse up. They are good level to reverse up. If they reverse up Bitcoin price will have lots of weeks to go up. But there is bearish screen on RSI Indicator. It broke down great uptrend line. We should see more weeks to see the new pattern. It may be early to make bullish analysis on Bitcoin price chart.

Even Bitcoin price goes up, there will be no bullish pattern. We need to see a pattern on RSI Indicator. It will not be a bullish pattern, It may be a bearish pattern.

So, we may see mini bullish trend on Bitcoin price chart. Weekly chart of Bitcoin price seems bearish. We should be careful for breaking down scenario on bearish flag pattern.

We will see..