Bitcoin is Ready to Enter Price Correction

Even Bitcoin price is trying to be above 90K, it needs to see price correction in a few days. This week is important. Lots of news will release in this week and they will effect Bitcoin price. These may be the reason of price correction of Bitcoin price chart.

Here you can see hourly chart of Bitcoin price. Even Bitcoin price broke down red uptrend line, price is still trying to be solid. It is stucked into flag pattern. Lots of investors are waiting for breakin up this flag pattern. But I don't think like that. I shared a few analysis and said I was waiting for price correction on Bitcoin price chart. It will begin after breaking up yellow support line on hourly chart. Bitcoin price tested again this support line and can not break down.

Here you can see daily chart of Bitcoin price. This is why I am waiting for price correction on Bitcoin price chart. MACD Indicator is at highest level. It is higher than 2021 bullish season. So, It is hard to go up again. I am waiting for price correcion on daily Bitcoin price chart. It will begin in this week after major news released.

So, we should follow hourly chart on Bitcoin price. If yellow suport line breaks down, we will see huge price drops on market. So, we should be careful.

We will see..

Posted Using InLeo Alpha