Bitcoin price is in red weekly candle in this week. This is 5th weekly red candle if Bitcoin price closes the week with this candle. We have seen 6 successive weekly red candle in previous bearish wave. We may see the same scenario.
Here you can see weekly chart of Bitcoin price. Bitcoin price supported by 200-week moving average. Even we are close to the bottom, we may see breaking down this great support level.
Here you can see the indicators on weekly chart of Bitcoin price. If we see weekly green candle on Bitcoin price chart, we will see also possitive divergence on RSI Indicator. The bottom level of RSI Indicator will increase while the bottom of the price decreasing. It will be good signal for reversing up.
MACD Indicator may reverse down if we see weekly red candle more. Fisher indicator reversed down from the top. We should wait to see completing the correction.
So, Bitcoin price is at decision week. It will decide to continue to go down, or reversing up. If we see weekly red candle on Bitcoin price chart, Bitcoin price may continue to go down. If we see weekly green candle, we may see reversing up.
We will see...
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