Bitcoin price closed the last week with green candle. It is the third green candle of successive green candles serie. 100-week moving average is waiting to resist Bitcoin price. It is great resistance on Bitcoin price chart. We may see reversing down after touching this great resistance.
Here you can see weekly chart of Bitcoin price. You can see how it supported Bitcoin price before. It worked as great support level on bitcoin price chart. It may work again as resistance. We have seen only 4 successive weekly green candles in this year. Bitcoin price is in 4th week after 3 successive weekly green candles. We may see price correction in this week or next week.
Here you can see the indicators on weekly chart of Bitcoin price. Fisher Indicator is on the top. If we see more weekly red candles, It will reverse down. We may see reversing down in few weeks. MACD Indicator is trying to go above 0 level. If not It will reverse down.
There was great downtrend line on RSI Indicator. It is broken up. Bitcoin price entered bullish trend for long term.
Even we see price correction on Bitcoin price chart, Bitcoin price have entered bullish season. It will take 8 or 9 quarter. I shared my long term analysis and pointed possible length of bullish season.
We will see..
Posted Using INLEO
