Bitcoin Price is Trying to Find Support Level

in Project HOPE • yesterday

After breaking down mini uptrend line, Bitcoin price is trying to find support level. I shared a few analysis about Bitcoin price chart and said I wass waiting to see breaking down of mini uptrend line of Bitcoin price chart. It happened.

Here you can see daily chart of Bitcoin and my draft. Even Bitcoin price touched all time high in May, I was waiting price correction. It started. After breaking down mini uptrend line, we would see huge red candles on Bitcoin price chart. It happened. The first support level is at 92K. We may see Bitcoin price supported by this level.

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Here you can see the indicators on daily chart of Bitcoin. This is why I was waiting for price correction. There was great bowl pattern on RSI Indicator. Bitcoin is close to touch this pattern. It need a few red daily candles. end of July may be the bottom of this bowl pattern. I shared lots of analysis and showed you this pattern. You can not find this pattern in anywhere..

There is similarities between past and now in MACD Indicator. Bitcoin price is moving as same. There is downtrend line on Fisher Indicator. So, Bitcoin price may be under pressure until end of July.

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My bowl pattern analysis is perfect. I focues RSI Indicator on Bitcoin price chart and I saw the similarities. Bitcoin has lots of bowl pattern in RSI Indicator. We are going to the bottom of this pattern.

We will see..

#crypto #palnet #krsuccess #analysis #trading #bitcoin #projecthope
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     yesterday 

    Hey @chorock! Excellent breakdown of the Bitcoin price action! Your call on the mini uptrend line break was spot-on, and it's impressive to see your analysis playing out so accurately.

    That RSI bowl pattern you've identified is fascinating and a unique perspective I haven't seen elsewhere. The comparison with past MACD movements and the downtrend on the Fisher Indicator really paints a comprehensive picture of potential near-term pressures.

    Thanks for sharing your insights and those charts are very helpful for everyone trying to navigate these volatile waters! I'm curious to see how the 92K support level holds up and if the bowl pattern completes as you predict. Following with interest and looking forward to your next update! What are your thoughts on the next potential resistance level if 92K holds?

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