Monthly close was so important for Bitcoin price chart. It closed at good level. I shared a few analysis about monthly Bitcoin price chart and I pointed the importance of close of montly candle.
Here you can see monthly chart of Bitcoin price and the indicators. Fisher Indicator is on the top and trying to reverse down. You can see what happened after reversing down from the top. MACD Indicator is on the top and ready to reverse down. You can also see what happened on MACD Indicator after reversing down. The major reason that can show us the proof of bearish season is on RSI Indicator. There is great uptrend line on RSI Indicator. If we see breaking down on this uptrend line, we will enter mega bearish season. We should follow this support line.
I circled the smilarities between past and now. You can compare the level and situations of the indicators.
After we saw quarter close on Bitcoin price chart, we got new candle on 3-month chart. It is so important to analyze for long term. I pointed this chart and said I will share my analysis after seeing quarter close.
Here you can see 3-month candle of Bitcoin price chart. Fisher Indicator is on the top. We are at 3rd green quarter candle. If we see red quarter candle in this quarter, Fisher Indicator will reverse down. You can see what happened when Fisher Indicator reversed down.
There is also uptrend line on RSI Indicator. It is so important to be above this support line.
We entered the last quarter of the year. When we look at 3-month chart of Bitcoin price, we will see red quarter in a few quarter. It means, It is so possible to see red quarter until the beginning of new year. So, we wil see breaking down on RSI Indicator in monthly and 3-month charts.
When we see these breaking downs, we will enter mega bearish season.
We should be careful.
We will see..
Posted Using INLEO