Even Bitcoin price seems trying to go up, it is trying to get ready for reversing down. Market maker always makes traps. We may see another bullish trap before reversing down. Because Bitcoin price is close to reversing down.
Here you can see hourly chart of Bitcoin. There were mini uptrend lines on Bitcoin price chart and they are broken down. The new one supported Bitcoin price 4 times and Bitcoin is close to break down this mini uptrend line. We may see breaking down of mini uptrend line in a few hours.
After seeing breaking down of mini uptrend line Bitcoin price may reverse down for midterm.
Here you can see the indicators on daily chart of Bitcoin. After breaking down on mini uptrend line, all of major indicators will reverse down or will be close to reverse down.
Fisher Indicator is on the top and close to reverse down. It only need a red daily candle. MACD Indicator touched great resistance and getting ready to reverse down. RSI Indicator touched also great resistance. These are major reasons that we may see price reversing on on Bitcoin chart.
We are close to see bullish trap on Bitcoin price chart. 95K is important level that can not be broken up easily. Bitcoin will need new try to break up this great resistance.
We will see..
Posted Using INLEO
