Bitcoin Price is Going Down Due to Great Resistances
Today is the first day of new week and Bitcoin price opened this week with red candle. I shared a post and said It was so possible to see red week in this week. Because Bitcoin touched great resistances on RSI Indicator.
Here you can see weekly chart of Bitcoin. There is great resistance downtrend line coming from March. Bitcoin could not break up this resistance. Bitcoin is waiting for major bullish news for trgigger. If it happens, Bitcoin may break this downtrend line and enter bullish season.
Here you can see daily chart of Bitcoin. There is also a downtrend line tested for breaking up 4 times. Bitcoin tested to break up a few days ago and I could not break up.
Bitcoin price reversed even It has not touched up line of descending channel. Lots of investors are following price. But I follow RSI Indicator for analysis. I can see upcoming trend and I warned you. Lots of investors may be thinking about Why Bitcoin price is going down. We can say why Bitcoin price is going down..
I was waiting with cash for this price going down. It started. I will follow how much Bitcoin price can go down.
We will see..
"Love the analysis! 😄 Thanks for sharing your insights on Bitcoin's price movement and RSI indicator - really interesting to see the weekly and daily charts compared 📈👍. I'm curious, do you think there's a specific event or news that could trigger a bullish turn for BTC? Would love to hear more from others in the community too! 💬"
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Yes bro, the price of bitcoin is falling in a very disappointing manner, which is very sad to see.