Bitcoin Price is at the Edge of Corner

Bitcoin price is going to the edge of the corner of descending channel. I shared lots of analysis about Bitcoin price chart and descending channel. This is 5th time of being on the top of in descending channel. We have seen 3 bullish trap and 1 early bullish trap. This is 5th time and what will be in the next?

Here you can see daily char tof Bitcoin. I drew hammer touched Bitcoin and you can see what happened after hammer did. There are uptrend lines. Time is running out and Bitcoin price may break down this uptrend in next week! If it happens, we may see price drop in Bitcoin price chart and Bitcoin may go down to 55K again.. The middle line of descending channel is great support.

Here you can see weekly chart of Bitcoin price. If Bitcoin price closes this week above 61K we will see breaking up of RSI Indicator in this week. It means, Bitcoin will enter bullish trend for mid-term.

Bitcoin broke up RSI Indicators downtrend line in daily chart. This is important to see in weekly chart. If it happens, there will be no more bearish indicators seemed on Bitcoin price chart.

MACD Indicator is close to reverse from the bottom. These are great bullish signals on Bitcoin price chart. There is also downtrend line on Fisher Indicator. Next week will be very important..

This is 2nd week of having green candles. We have not seen 3 green candles on Bitcoin price chart since March 2024. Will it be first time for Bitcoin price in next week to see green candle?

We will see what will happen..

Posted Using InLeo Alpha