Bitcoin price has increased rapidly in the last two days compared to the previous period. It has increased by 12% in two days. Bitcoin was below $84,000 two days ago. Yesterday, Bitcoin price increased above $94,000 although now Bitcoin price is trading above $93,500. However, the way Bitcoin price has increased in the last two days, it has increased without any price correction. It has broken minor resistance. During the mini bullish trend, it may be time to see a price correction in the Bitcoin price chart. So we do not need to be so happy to see the increase in Bitcoin price at the present time. Because it has increased without any price correction.
[source](https://pixabay.com/photos/bitcoin-money-virtual-market-3137984/)
However, if you review the Bitcoin candlesticks well, you can make some guesses. For example, if we review the Bitcoin candlesticks, especially the 4-hour chart of Bitcoin, it can be seen that there is a mini uptrend line in the Bitcoin price chart. Today Bitcoin has tested and supported this support line again. Here Bitcoin rejection range is between $94,500 and $96,500. So we should pay attention to this direction because currently Bitcoin price is still close to this support line. If we see a small price dump on Bitcoin price chart, it will break the mini uptrend line.. Here you can see the hourly chart and indicators of Bitcoin. There is another mini uptrend line on Bitcoin price chart. When Bitcoin price breaks the uptrend line, it can be supported by the 2nd mini uptrend line.
If this happens, the Fisher indicator will reach a peak in a few hours. Even if it reaches a peak in a few hours, it may reverse from the top to the bottom. This may be the reason for the Bitcoin price chart to break. The RSI indicator had an uptrend line and it has broken. The RSI indicator has a lot of negative divergence on the hourly chart. This does not bode well for Bitcoin, but this is why we need to wait for a price correction on the Bitcoin price chart. However, I think Bitcoin can go towards $100,000. However, the point is that Bitcoin price will not reach $100,000 in one jump, but its price will decrease and increase and reach it like this. We may see a price correction tomorrow. This may just be a dead cat bounce and the market maker may want to create a bullish trap. We should be cautious rather than happy right now.
