Bitcoin Price is on 8-Month Moving Average After one of the Worst Month

February was one of the worst month for Bitcoin price chart. Bitcoin price is down more than 20% in this month. Even we saw huge monthly red candle, Bitcoin price is on 8-month moving average. It is one of great trend line. So, Bitcoin is bullish for long term. There is no problem for long term. It may be only a correction.

I shared lots of analysis and warned about possible price correction on Bitcoin price chart. It may be completed. Here you can see monthly chart of Bitcoin. We saw similar monthly red candle on 2021. We have not seen huge monthly red candle like February since 2021.

Here you can see the indicators on Bitocin price chart. Even we are bullish trend for long term, Fisher Indicator reversed from the top. There is similarity between 2021 and now. We may see price correction on Bitcoin price chart for a few months.. Even we saw Bitcoin price below 8-month moving average in last year, it was a bearish trap. We may see same scenario again.

MACD Indicator is going down. It may be close to reverse down in a few months. We should see huge green monhtly candle in a few month to continue bullish trend..

We will see bullish trend in this year. I think we may see bullish trend on Bitcoin price chart after March. We may see mega altcoin season after Summer.

We will see..