There is great market crash on crypto market today. Even Bitcoin price touched 91K today, all of altcoins are down more than 40%. This market crash is bigger than FTX and Luna crash. Bitcoin price touched great suport line after this crash and supported by this line.
Here you can see daily chart of Bitcoin. There is blue support line coming from the middle of November. If we see breaking down of this support line, we may see another market crash on crypto market. I hope it will not happen..
It may be the only the beginning. I shared a few analysis about Bitcoin price chart and said, something huge coming for crypto market. Here you can see weekly chart of Bitcoin. MACD Indicator reversed from the top. Bitcoin entered price correction for midterm! Fisher Indicator was going down. We may see going down on MACD Indicator. You can see what happened after MACD Indicator reversed down. It will take long time on Bitcoin price chart. It will take a few weeks. We may see price correction until Summer.
This is only weekly chart of Bitcoin. Montly chart of Bitcoin will start to seem as bearish in a few months.
We will see..
Posted Using INLEO