Bitcoin price broke down great support line on the top and the worst scenario on crypto market started. Most of altcoins are at the bottom before Bitcoin broke down great support line. Now they are on down than bottom. I warned you a few times that Bitcoin price would break down this support line. It happened.
Here you can see daily chart of Bitcoin. Great suppor line suppported Bitcoin price a few times. There was downtrend line on Bitcoin price chart coming from 108K. Downtrend line beat support line and Bitcoin price broke down support line. This is only the beginning after breaking of support line.
Here you can see weekly chart of Bitcoin. MACD Indicator reversed from the top. This is why Bitcoin price would go down. We need a few weeks to complete correction on weekly Bitcoin price chart. We will wait until Summer..
There is bowl pattern on Bitcoin price chart. I think It will support Bitcoin price If Bitcoin price goes down until this support line.
Lots of influencers were waiting for all time high on Bitcoin price chart and waiting mega altcoin season in this month. Market maker always makes fake moves and It happened.
I will cash flow into market after today. Lots of altcoins are at good level to pick up.
We will see...
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Thanks for sharing another good analysis, after seeing that big drop that bitcoin and the crypto market in general have had.
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