There is great support level on Bitcoin price chart. 200-week moving average is so important average on Bitcoin price chart. We will follow this average to see the trend.
Here you can see weekly chart of Bitcoin price. There is great resistance on Bitcoin price chart coming from all time high level. I shared a few analysis about this resistance. It would be hard to break up. This is why Bitcoin price can not break up this resistance. 200-week moving average is also following Bitcoin price. 200-week moving average and great resistance coming from all time high will cross each other in this week. Bitcoin price stuck between this support and resistance levels.
Here you can see the indicators on weekly chart of Bitcoin price. Fisher Indicator reversed up from the bottom. MACD Indicator reversed up below 0 level. There is great resistance on RSI Indicator. This is why Bitcoin price is under resistance. It is hard to break up this resistance.
There may be time to break up great resistance on RSI Indicator. We need to see more weekly green candles.
If we see weekly red candle, Bitcoin price will close this week below 8-week moving average. This is why we are at critial time. We will see daily huge candles in this week.
We will see...
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