There is Major Curve Support Line Following Bitcoin Price
Bitcoin price chart lots of support lines. There are lots of curve support lines. But one of them is major curve line coming from 2021. Bitcoin price will go up when it stays above this support line.
Here you can see daily chart of Bitcoin price. Bitcoin price broke down mini curve support line. After breaking down this support line, Bitcoin price went down fast. There is great major support line at 100K. If we see market crash on Bitcoin price chart more than 10% down, Major curve support line will support Bitcoin price.
Here you can see the indicators on daily chart of Bitcoin price. The worst scenario is to touch major curve support line. When we look at the indicator, it may be hard to see the worst scenario.
Fisher Indicator is on the bottom and trying to reverse up. MACD Indicator is also on the bottom and trying to reverse up.
There are lots of bowl pattern on RSI Indicator. We may see reversing up from this level. Because RSI Indicator touched bowl pattern. If Bitcoin price reverses up from this level, we will see uptrend during end of this year.
Bitcoin price is in bullish trend until 2021. There is great curve support line on Bitcoin price chart. It may be hard to see Bitcoin price below 100K.
We will see..
@chorock, thanks for sharing your Bitcoin price analysis! I appreciate the clear visuals and the focus on the major curve support line dating back to 2021. Your insights on the Fisher, MACD, and RSI indicators, particularly the bowl pattern observation, add a valuable layer to the technical analysis.
The potential bounce from the current level and the possibility of an uptrend by year-end are exciting prospects! It's helpful to have these key support levels identified, especially the 100K mark. I will watch closely to see how things unfold and encourage everyone to share their thoughts and analysis in the comments below. What are your predictions for Bitcoin's price movement in the coming weeks? Let's discuss!
Here I am again, reading your analyses, thanks for sharing them.
I like how you broke down the role of the major curve support line and tied it back to previous price action. The way you explained the Fisher and MACD indicators lining up for a possible reversal makes the bullish case stronger. Personally, I also find RSI bowl patterns quite reliable for spotting trend shifts. It’s interesting that you see 100K as a strong line that won’t easily break, do you think institutional investors are the main reason this support holds, or is it more of a psychological price level?