After huge price drop on crypto market, we have seen daily close below 100-day moving average on Bitcoin price chart. I shared a few analysis about Bitcoin price chart and I was waiting for price drop on Bitcoin price chart. It happened. Because there was great resistance on Bitcoin price chart and there was no enough hype on crypto market to break up this great resistance.
Here you can see daily chart of Bitcoin price. There was also mini uptrend line on Bitcoin price chart. I is broken down a few days ago. This was why I was waiting for huge price drop on crypto market. 100-day moving average was the first support level for Bitcoin price chart. We have seen daily close below this average. Bitcoin price should go up and show us daily close above this average..
Here you can see the indicators on daily chart of Bitcoin price. MACD Indicators reversed down. Fisher Indicator is going down from the top. I pointed these indicators. These indicators entered correction. We should wait to see end of correction.
100-day moving average is also important level for Bitcoin price chart. If Bitcoin price can not stay above this average, 200-day moving average is coming to support for Bitcoin price.
Even it seems bearish, lots of altcoins are close to all time low level. It may be chance to pick up.
We will see..
