9 Green Monthle Candles at Bitcoin Price Chart Last 10 Months

There are 9 green monthly candles at Bitcoin pri ce chart in last 10 months. It may be end of bullish season for 2023-2024. Even lots of investors are very bullish for crypto market, I think that price correction is waiting for us. Even Bitcoin price went down from 74K to 57K, it may not be enough for price correction. I will share my supports for my thesis.

Here you can see monthly chart of Bitcoin. I circled Fisher Indicator on the top. It seems undecided. Fisher Indicator should decide go up or down. When we look at the past, we have never seen this situation in this indicator. it may be a fake move in June.

This Indicator should have correcttion. We have 9 green candles in last 10 months. We need red candles on monthly chart.

Here you can see daily chart of Bitcoin. I shared descending channel on this chart for a few times. Bitcoin had bullish traps on this chart. Even It seems broken up, we have never seen daily close above the top line of decending channel.

There is also uptrend line on this chart. It may be broken down in a few days. We will see huge price dump on Bitcoin chart when its breaks down.

Fisher Indicator seems on the bottom, we will see if it supports the price..
MACD Indicator is on the top. It reversed and it may be waiting for correction.

These are a few reasons of waiting price correction for midterm. We may see red monthly candles on Bitcoin price chart.

Bitcoin price seems at the corner of the cliff.

We will see...

Posted Using InLeo Alpha