Bitcoin Price is Goint to Touch 200-Day Moving Average
Bitcoin price broke down 100-day moving average where is one of great support level for Bitcoin price. After breaking down this great support, the volatility increased on crypto market. I shared a few analysis and pointed this moving average. It happened.
Here you can see daily chart of Bitcoin price. 200-day moving average is following Bitcoin price. It may support Bitcoin price if Bitcoin price drops to this great support. After volatility increased, it may be possible to see Bitcoin price touching this support line.
Here you can see the indicators on daily chart of Bitcoin price. I shared a pattern on RSI Indicator. There was a bowl pattern on RSI Indicator and It is broken down.
Fisher Indicator is going down day by day It will reach the bottom to reverse up but MACD Indicator reversed down yet.
We need time to see corrections the indicators on daily chart of Bitcoin price.
There is no reversing pattern on Bitcoin price chart. Market maker did what he did always. Lots of investors are waiting for mega altcoin season after dropping on interest rates. We have see huge price drops on Bitcoin price chart after FOMC meeting.
We will see..
@chorock, excellent breakdown of Bitcoin's recent price action! Your analysis of the 100 and 200-day moving averages, coupled with the RSI and Fisher indicator insights, is spot-on. The way you've highlighted the breakdown and potential support levels makes this incredibly valuable for anyone navigating this volatile market.
The charts are super clear and really help visualize the patterns you're describing. It's interesting to see your perspective on the "market maker" and the potential impact of interest rate decisions.
What are your thoughts on how long this corrective phase might last, based on the indicators? I'm eager to hear what others in the community think about your analysis and potential strategies going forward! Thanks for sharing your expertise!