Bitcoin Will Make a Decision For Bull Run or Crash

chorock - 2024-03-29 22:03:39

Bitcoin is on decision days. It will make a decision to continue bull run or crash. Even Bitcoin price broke up all time high, It can not go up fastly. Bitcoin price went up more than 2x in 20 days after breaking all time high. This year Bitcoin can not go up fastly. We have not entered halving yet. This is why Bitcoin price can not go up.

We may see price drop after halving. It may be great reason for price correction.
But there is bullish also bullish scenarios..

Here you can see daily chart of Bitcoin. There is similarity between 42K level and now. Bitcoin price broke up downtrend line coming from 48K to 38K and entered consolidation before bullrun.

Now, Bitcoin price went down from 74K to 62K and broke up downtrend line and it is under preparation for bullrun or crash.


Here you can see longterm Bitcoin price chart. That is why I said crash. There is similarity between 69K All time high level in 2021 and now.

I circled MACD Indicator. When Bitcoin price tocuhed 74K USD level, MACD Indicator level is at same level as 2021 all time high. MACD Indicator reversed from the top and tried to reverse to continue bull run but went down.

Today MACD Indicator drew same scenario. MACD Indicator is at same level and will make a decision to reverse to continue bullrun or to go down to enter crash.


We should be more careful in April.

We will see the decision of Bitcoin in a few days.