After touching 80K USD, Bitcoin price made bounce %10. It was only a dead cat bounce. Even we have seen small reversing attack on Bitcoin price chart, Bitcoin price is still below 8-day moving average.
Here you can see dailym chart of Bitcoin price. Bitcoin price went down fast. It has not broke up downtrend line even it went up more than 10% from bottom. We may see another bearish attack on Bitcoin price chart. Because 8-day moving average appears as resistance on Bitcoin price chart.
I listened a few astrologer and They pointed Friday of this week. We may see another market crash in this week at Friday. When I looked daily chart of Bitcoin price, It may be the reason Why Bitcoin can not break up 8-day moving average.
Here you can see weekly chart of Bitcoin price and the indicators. There was great support line on RSI Indicator. Uptrend pattern is broken down. There was great head and shoulders pattern on Bitcoin price chart. We may see right shoulder on this chart it we see reversing down on Bitcoin price again.
MACD Indicator level is at lowest level. We have not seen this level before. MACD Indicator is trying to reverse up. Fisher Indicator is also trying to reverse up.
100-week moving average supported Bitcoin price. Bitcoin price may break down this moving average if my thesis may happen.
We should be careful during this week and December. We may see another market crash until end of this year.
We will see..
Posted Using INLEO