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
