Bitcoin Price Chart is Close to Mega Bearish Season

There are lots of similarities on Bitcoin price chart between 2021 and now. Bitcoin price moved as same as this dates. It touched all time high in March 2024 as March 2021. It tried to reverse from the bottom to all time high again in August 2024 as August 2021.

Here you can see monthly chart of Bitcoin. There are lots of similarities on the indicators. MACD Indicator is at the same level as 2021. It is going up as same as 2021 and close to reverse from the top!

Fisher Indicator has also same move as 2021. It may reverse again and goes bullish side but if it has red monthly candle, it reverse again to bearish side.. MACD Indiator will also follow as bearish.. There is 8-month moving average and Bitcoin is trying to go up this average as 2021. If not, Bitcoin will enter mega bearish season!

This was the summary of entering mega bearish season. When lots of investors are waiting for all time high, it may be a trap for all crypto investors. I shared lots of bearish analysis during this year and most of them happened.

Here you can see daily chart of Bitcoin. There was great resistance on MACD Indicator. This is why Bitcoin could not go up all time high. MACD Indicator reversed from this resistance and Bitcoin price went down from 68K to 66K.. Bitcoin should break up this resistance if it wants to go up to all time high!

There is support line on bowl pattern on RSI Indicator. Bitcoin may be supported by this pattern if Bitcoin price goes down.

So, Bitcoin price may touch 62K and go up again. It should go up! If not, we read what will happen..

Bitcoin price is at the corner of cliff. It can be blamed in life or can die..

We will see..

Posted Using InLeo Alpha