When I was writing this post, Bitcoin price was over 70K USD. After completing this post, Bitcoin price went down 70K USD. Bitcoin may have entered price coorection. I shared lots of analysis and shared possible price correction scenarios about Bitcoin. Today we saw a few proof of price coorection.
Bitcoin price went up from 38K to 74K without any price correction. Lots of investors are waiting with their cash to flow into crypto market. So, they are waiting for price correction.
Price correction was coming soon and Bitcoin may have entered price correction!
Here you can see daily chart of Bitcoin. Fisher Indicator is on the top. We have seen this level 2 time before. You can see what happened before after this level. I circled past price moves and We may see 2nd price move as price correction. Because there are lots of buyers for Bitcoin in these levels.
Here you can see weekly chart of Bitcoin. Fisher and MACD Indicators are on the top. They may enter preparation for preversing in a few weeks. Price left the top line of Bollinger Band. This means, price is overh high. So, price correction is coming soon!
I think we will enter soft price correction for Bitcoin price. Soft price correction will reverse indicators slowly and it will be preparation for mega bull run.
After interest rates decreases, we will enter mega bullish season.
We will see…