Bitcoin went down from 48K to 38K even ETF news released. Lots of investors are in hype with ETF news and waiting to see 60K. Bitcoin may have made a fake move before bullish run? It may be possible. We will understand this in a few days.
Here you can see daily chart of Bitcoin. Bitcoin price broke down the trend. It may be a bearish trap. If Bitcoin price goes up this support line again, we can say that this is a bearish trap. But it is early to say.
Bitcoin price is trying to stay above 40K today.
When we look at the Indicators of daily Bitcoin price chart, Bitcoin may make a bullish move in a few days. We will see if it may be enought to break up this support line.
Here you can see daily chart of Bitcoin and Indicator. MACD Indicator may reverse from the bottom. I circled the Fisher Indicator and It will reverse from the bottom in a few days. I drew the lines what Bitcoin did before.
We can see same move for Bitcoin.
We may see dump and pumps on Bitcoin price chart in a short time.
For long term, we are still in bullish trend..