Bitcoin closed the year with 3 monthly red candles. It was one of the worst close of the year. We have seen 6 red and 6 green monthly red candles.
Here you can see monthly chart of Bitcoin price. We have not seen more than 3 monthly red candles since 2019. It is so possible to see monhtly green candle in this month. 25-month moving average is also important for Bitcoin price, It supported the price. It is broken down, bearish flag pattern will start on Bitcoin price chart. You can also see what happened after breaking down this moving average..
Here you can see the indicators on monthly chart of Bitcoin price. MACD Indicator reversed down. Fisher Indicator is also reversed down. There was great uptrend line on RSI Indicator and It is broken down. We should see the new pattern on RSI Indicator.
100-month moving average is the target level of possible bearish flag pattern. If this pattern starts, Bitcoin price may touch this level.
There are also lots of similarities between 2022 and now. If Bitcoin price breaks down this moving average and bearish flag pattern starts, we will see the same scenario. It will be the depression period for this chart.
Even we see a few monthly green candles on Bitcoin price chart, It is possible to see bearish flag pattern on Bitcoin price chart. If Bitcoin price moves as past, we will see Bitcoin price at 40K USD.
We will see..
