The worst scenario for crypto market is coming soon. Even Bitcoin price seems bullish, It may be close to the edge of the cliff. We may be at the beginning of the worst days. Even there is no trend end on Bitcoin price chart, We should be careful about possible price reversing down.
Here you can see montly chart of Bitcoin price. Bitcoin price chart got 2 red monthly candle in last 3 months. Even Bitcoin price is still above 8-month moving average, It may go down this average if it gets a monthly red candle in next month. There is great bowl pattern on Bitcoin price chart. Bitcoin price should be in this pattern. If not, we will enter mega bearish season.
Here you can see the indicators on monthly chart of Bitcoin price. I pointed this chart a few days ago. RSI Indicator stuck between up and downtrend lines. If Bitcoin price closes the month below 111K, we will see breaking down on uptrend line of RSI Indicator. MACD Indicator is also trying to reverse down as Fisher Indicator. If we see reversing down on these major indicators, we will enter mega bearish season.
This is why I pointed mega bearish season. It is the worst scenario for Bitcoin price chart. It may take a year to recovert the loses..
So, we should be careful about this scenario. Something big is coming soon.
We will see..