There are bowl patterns on Bitcoin price chart. Bitcoin price moves as drawing a bowl. If this pattern breaks down, we may see price correction or downtren on Bitcoin price chart.
I shared lots of analysis to predict the future of Bitcoin price. This is 6th months we are in green candle in monthly chart of Bitcoin. We have never seen this bullish moves when we are not in bullish trend.
Here you can see weekly chart of Bitcoin price. There is RSI Indicator below this chart. I drew bowl pattern on RSI Indicator.
You can see what happened after this pattern broken down..
This bullish trend may continue until Summer. Because RSI Indicator will be broken down until Summer!
I shared a few post and said Bitcoin price may enter price correction after halving. It is possible to see this price move. RSI Indicator may break down the trend after halving?
Here you can see daily chart of Bitcoin. There is downtrend line on RSI Indicator. Bitcoin touched this resistance yesterday when price hit 52K. So, It will be hard to break up 52K..
We may see Bitcoin price stable during 51-52K. This is good for altcoin prices. They may go up. Because, Bitcoin price is under this resistance. It may take time to break up!
I will follow this bowl pattern. Bitcoin price trend may reverse down.
We will see..
Posted Using InLeo Alpha