Bitcoin Price Failed to Close Above 100-Day Moving Average

There was great chance for Bitcoin price to close above 100-day moving average in yesterday. Bitcoin price reversed up below 100-day moving average and broke up this average. We should see daily close above this average but we could not.

Here you can see daily chart of Bitcoin price. I shared a few analysis about the importance of 100-day moving average. You can see how it supported and resisted Bitcoin price. After breaking up this resistance, Bitcoin price could not close the day above this average. It is still below this average. It is still under pressure of 100-day moving average.

I circled the similarities between past and now. You can see what happened after breaking up and closing above 100-day moving average.

Here you can see the indicators on daily chart of Bitcoin price. There was great bowl pattern on RSI Indicator and it is broken down. There is great downtrend line on MACD Indicator. MACD Indicator will touch this downtrend line in a few days. If we see reversing down from this downtrend line, we will meet another downtrend on Bitcoin price chart. 200-day moving average is great next support for Bitcoin price.

Even Fisher Indicator reversed up from the bottom, It is going up fast and It will reach to the top. We may see reversing down on Fisher Indicator for this scenario..

When we look at past, it is so possible to see more days below 100-day moving average. Bitcoin price may stuck between 100 and 200-day moving averages.

We will see..