Bitcoin Price Went up in Last Day of Week

Due to close at good level of the week, Bitcoin price went up even we have seen another market crash in last week. Bitcoin price is trying to go up 111K where is important level for long term. I shared a few analysis about the important of this level.

Here you can see weekly chart of Bitcoin price. I drew the important moving averages and bowl pattern. There is no breakdown on great bowl pattern on Bitcoin price chart for long term. It is very important to see this trend. After reversing up from the bottom of last week, we can see weekly doji candle on Bitcoin price chart. It is another good signal for long term. This week, Bitcoin price is trying to stay abouve 111K which is one of the most imporant level for Bitcoin price chart.

Here you can see monhtly chart of Bitcoin price and the indicators. This is why I said 111K so important level. There are uptrend and downtrend lines on RSI Indicator. We will see breaking up or down in a few months. If we see monthly close below 111K, Bitcoin price will break down great support line of RSI Indicator. It is the worst scenario for Bitcoin price chart. Because longterm trend will be broken down. This is why 111K USD so important. We should see monthly close above 111K USD. If not, bearish season will be confirmed.

Fisher and MACD Indicator are also waiting to reverse down. If we see red candles in this month and next month, mega bearish season will begin.

So, we should follow Bitcoin price until the end of this month. If you see Bitcoin price below 111K USD at the end of this month, you can be sure that we entered bearish season.

We will see..