After touching 200-day moving average, Bitcoin price can not go up. 200-day moving average is great resistance for Bitcoin price chart. It is hard to break up this resistance. Bitcoin price is in an ascending channel. It is going up slowly in this channel. There are mini uptrend lines on this channel. Bitcoin price broke down the second mini upternd line on this channel.
Here you can see daily chart of Bitcoin price. I shared lof of analysis about the importance of 200-day moving average. It resisted Bitcoin price. There was mini uptrend line on Bitcoin price. After this resisting, Bitcoin price broke down this mini uptrend line. We will see price correction of this mini uptrend on Bitcoin price chart.
Here you can see the indicators on daily chart of Bitcoin price. There was great downtrend line on RSI Indicator. It is broken up a few days ago. Even it is broken up, we have not seen bullish days on Bitcoin price chart. It may be a bullish trap. There was mini uptrend line on this indicator and It is broken down.
MACD Indicator is on the top and reversed down. It is so possible to see correction on Bitcoin price chart. Fisher Indicator is also on the top. We should see correction on both price chart and the indicators.
There are major reasons that we are waiting for price correction on Bitcoin price chart. We should be careful. I potinted possible price correction until end of May in my past analysis. It may be started.
We will see..