Bitcoin is trying to reverse up after touching 59K. There appeared mini bearish flag pattern. I shared a few analysis about possible bearish flag pattern. Finally Bitcoin price broke up the triangle of this possible bearish flag pattern.
Here you can see daily chart of Bitcoin price. After breaking up the top level of this triangle, the height of this triangle is the target of Bitcoin price. Bitcoin price may go up 69K USD level for this price target.
There was great downtrend line coming from all time high level. After reversing down from 80K USD, Bitcoin price supported by retesting this downtrend line.
Here you can see the indicators on daily chart of Bitcoin price. There was downtrend line on Fisher Indicator. It is broken up. There was downtrend line on RSI Indicator. It is broken up. MACD Indicator reversed up from the botttom.
We may see mini bullish trend on Bitcoin price chart. If we see this mini bullish trend, Bitcoin price may touch 69K USD level.
If it happens, we may see the right shoulder of possible head and shoulders pattern.
If we see possible head and shoulders pattern, we will focus the target of this bearish pattern.
Even we see mini bullish trend, we should be careful bearish wave after this mini bullish trend.
We will see..
