It was so important average on Bitcoin price chart. It is broken up a few days ago. After breaking up 200-day moving average, Bitcoin price went up fast. There was great downtrend line on Bitcoin price chart. I shared a few analysis about this resistance. It was broken up. You can see what happened after breaking uo this resistance.
Here you can see daily chart of Bitcoin price. There was mini head and shoulders pattern. Bitcoin price did not break down the bottom line of this pattern. It is supported by the bottom line of this pattern and It broke up great resistance coming from all time high. After breaking up this great resistance, 200-day moving average was the first great resistance on Bitcoin price chart. Bitcoin price broke up this resistance with daily huge green candles.
Here you can see the indicators on daily chart of Bitcoin price. There was great resistance on RSI Indicator. It is broken up. This is one of great signal for reversing the trend. Bitcoin price entered bullish trend in daily chart. Even MACD Indicator broke down mini uptrend line, Market maker made a fake move and Bitcoin price went up fast. We have not seen this bullish huge green candles on Bitcoin price chart in last years.
Bitcoin price is trying to reverse the trend. It may be successful to reverse the trend. Because It broke up 200-day moving average. We may see uptrend until the end of this year.
We will see..
