Bitcoin price broke down great support line coming from the middle of November. Bitcoin made a bearish trap when it broke down it in first time. Bitcoin price broke down again this resistance in this week. It will not be a bearish trap. Because there is lots of signals that show us it will not be a bearish trap and Bitcoin will continue downtrend.
Bitcoin price did need price correction. All of indicators are at all time high level as price. Most of indicators entered correction a few weeks ago. They need more time..
Here you can see daily Bitcoin price chart. Yesterday Bitcoin price touched the support line. It worked as a resistance. So, it is time to go down.
We may see price drop on all stock and crypto market as 4th August 2024. I think that it is so possible to to in next week..
Here you can see the indicators on daily Bitcoin price chart. Bitcoin price will be under the pressure of downtrend line on RSI Indicator. It will continue until end of February.
Fisher Indicator reversed from the top. MACD Indicator is still in downtrend. These are major reasons that we may see at least one price dump on crypto market.
When we look at Hive price, Hive did get ready for this price correction. It was undervalued. It pumped 3x in a month and It is ready for big price correction on crypto market.
We will see..
Posted Using INLEO