Bitcoin Price Should Break up 74K USD Level

Bitcoin price is trying to recover the loses. Even it got huge green candle more than 10%, It is still not enough. There was great bearish flag pattern. Bitcoin price went down fast. This is why Bitcoin price got huge green candle more than 10%. Even it got this candle, it is not enough.

Heer you can see daily chart of Bitcoin price. You can see hte importance of 74K USD level. Bitcoin price should break up this level. There is downtrend line on Bitcoin price chart. If Bitcoin price breaks up 74K USD level, It will break both downtrend line and great old support level. This support level is a resistance now.

It may be possible to see touching this level. It may be possible to reverse down after touching this level. It may be retest of downtrend..

Here you can see the indicators on daily chart of Bitcoin price. MACD and Fisher Indicators are on the bottom and trying to reverse up. There is downtrend line on RSI Indicator. It should be broken up. If not, Bitcoin price will continue to go down. If it is broken up, Bitcoin price will test 74K USD level.

So it is so hard to see big reversing up from this level. There is no possitive divergence on RSI Indicator.

Even we see horizantal trend, we should be ready for another price dump on Bitcoin price chart. There are lots of important astrological days in February. These will be the trigger for market maker and we may see price dump..

We will see..

Posted Using INLEO