Bitcoin price closed the week one of great average. 200-week moving average was one of the last castle for Bitcoin price while it was going down. It could not support Bitcoin price and Bitcoin price broke down 200-week moving average. Even we have seen weekly close below this average, Bitcoin price closed the last week yesterday above 200-week moving average. We will see bullish or bearish trap.
Here you can see weekly chart of Bitcoin price. We have seen weekly close below this average after Luna crash. Even Bitcoin price reversed and went above thiss average, It was only a bullish trap and Bitcoin price continued to go down. We may see the same scenario. Closing above this average may be a bullish trap.
Here you can see the indicators on weekly chart of Bitcoin price. Fisher Indicator is on the bottom and trying to reverse up. If we dont see weekly huge red candle on Bitcoin price chart, it will reverse up. MACD Indicator is below 0 level. It is trying to reverse up.
There is great downtrend line on RSI Indicator. It is impossible to see bullish season before breaking up this great resistance. We should see breaking up this great resistance.
Bitcoin price is close to the bottom. Even it is close to the bottom, it is possible to see another market crash. The time is coming. Reversing time is coming.
We will see..
Posted Using INLEO
