Bitcoin Price is Trying to Break up Another Downtrend Line

There is mini downtrend line on Bitcoin price chart. Bitcoin price broke up previous mini downtrend line a few days ago. Even it is broken up, we could not see huge price pumps on Bitcoin price chart. There was also bullish flag pattern. Bitcoin price reversed down after breaking down this mini downtrend line.

Here you can see daily chart of Bitcoin price. There appears bigger downtrend line on Bitcoin price chart. After getting 2 daily red candles, Bitcoin price is trying to reverse up. It will try to break up abother mini downtrend line in next week.

Here you can see the indicators on daily chart of Bitcoin price. There is also downtrend line on RSI Indicator. MACD Indicator is on correction. We may see reversing up MACD Indicator if Bitcoin price gets green daily candles. If not, we will see correction on Bitcoin price for a month. Downtrend line of RSI Indicator may grow and It may be greater resistance.

Bitcoin price is trying to stay above great resistance. There was great resistance coming from all time high levels. It works as a support line. Bitcoin price should stay above this support line to continue uptrend. If Bitcoin price can not break up mini downtrend line in short time, we will see breaking down of this great support line.

We will see..