Bitcoin is only at the Beginning of Price Correction

Even Bitcoin price went down fast from 107K to 93K, It is still at the beginning of price correction. I shared lots of analysis about Bitcoin price chart and said, I was waiting for price correction on Bitcoin price chart Even lots of investors and influencer were in hype and waiting for 150K in short time.

I was sure that price correction was coming soon and I came. Here you can see daily chart of Bitcoin. This is why I say that we are at the beginning of price correction.

There is great bowl pattern on Bitcoin price chart. Bitcoin price may go down to touch this pattern. Bowl pattern is increasing as parabolic. Even it is increasing as parabolic, Bitcoin price is still at so high level. It needs more price correction to be supported. There is no major support on Bitcoin price chart.

Bitcoin price may go down to 70K and touch bowl pattern.

Here you can see the indicators on Bitcoin price chart. There was great bowl pattern on RSI Indicator. It is broken down a few days ago. So, we are at the beginning of new pattern. So, It may take long time for price correction.

I think we will be in price correction until end of January. We may see huge price drops on Bitcoin price chart in this time. So, All of indicators will complete corrections. They need to see correction. Because they are at so high level.

As I said, we may see huge price drops on Bitcoin price chart until end of January. Bitcoin price is still so high level. It is 6x high level from the bottom.

We will see..

Posted Using InLeo Alpha