Bitcoin price is in rising wedge pattern. This pattern will be crossed with great resistance on Bitcoin price chart in a few days. The bottom line of rising wedge pattern supported Bitcoin price 4 times. It is getting stronger after testing. But Rising Wedge pattern may continue as downtrend after breaking down.
Here you can see 4-hour chart of Bitcoin price. Bitcoin tested two times miniuptrend line in a day. If Bitcoin price breaks down this support line, we may see huge price drops on Bitcoin price chart. It is hard to break the great resistance on 116K which is coming from the top level of Bitcoin price.
Here you can see daily chart of Bitcoin and the indicators. When we look at this chart and the indicators, we can see that we are close to price drop on Bitcoin price chart. Even Bitcoin price chart has 4 green daily candles, It can not going up. They are weak green candles. Fisher Indicator reversed down from the top. MACD Indicator reversed down from the top. There was great bowl pattern on RSI Indicator and it is broken down.
There are the reasons why I am waiting for price dump on Bitcoin price chart. Indicators are ready for price dump on Bitcoin price chart. If we see a red candle in daily chart, Bitcoin price will break down rising wedge pattern and we will enter downtrend.
As I said, The indicators are ready for price correction on Bitcoin price chart. It need only a red daily candle. If we see red daily candle, we will see red weekly candle in this week. They will be trigger for each other.
We will see...