5th bullish trap on Bitcoin price chart just started. I shared lots of analysis about possible bullish trap on Bitcoin price chart and I tried to warn you about not to get into hype. Because downtrend was coming soon and It is the first day of seeing the proof of downtrend and bullish trap.
I shared Bitcoin analysis posts nowadays about this possible bullish trends. When I look the investors of crypto market, most of them was waiting for all time high after FED interest rate update but my analysis was not waiting for all time high. I believe my analysis and It showed my possible bullish trap.
I am sure that market maker likes making bullish traps on Bitcoin price chart. It is great time to distribute crypto to investor for market maker and It started. Most of crypto fenomens helped market maker to hyped shitcoins and most of investors flowed cash to market and bought them on the top!
Here you can see my draft and I shared it a few months ago. I have not changed anything on it and I worked as well. Bitcoin resisted by great resistance. There are millimetric lines on indicators. I was waiting to see touched on great resistances and maker maker tried to touch them yesterdays close. It hapenned and Great resistances became greater! It is very hard to break them up..
MACD and RSI Indicators resisted by these resistance and It is time to go down!
Fisher Indicator was also on the sky and It seemed as ballon and The balloon burst...
Bitcoin price broke down uptrend line and we need to see a support on price. It is less possible to see to be supported at 60K USD level. We may see deeper prices..
Here you can see monthly chart of Bitcoin. October is the most important month for Bitcoin. If it closes as red, MACD Indicator will enter bullish trend and we need more than one year to enter bullish trend. It is so important as I said. It is at the same level as 2022. I think you dont want to remember 2022 for Bitcoin!
What if it happens, you can imagine what will come to out dream while we are waiting for all time high and altcoin season.
We should be careful when we invest on crypto market. Bitcoin may be at the end of cliff. As gold prices seems like that, Big crash may be close.. Even I dont think like that, October should be green! If not, I will share more bearish analysis...
We will see...
Posted Using InLeo Alpha
