Bitcoin Price Closed the Week at Lowest Level
Bitcoin price got -4% weekly red candle in last week. Bitcoin price can not break up 82K USD level where is the last high level. It should be broken up to enter bullish season. But Bitcoin price can not break up this level.
Here you can see weekly chart of Bitcoin price. Bitcoin price got huge weekly red candle after doji candle. Weak candles on weekly chart of Bitcoin price appeared. It may be the signal for reversing down. Bitcoin price should break up 82K level in short time. If not, we will see price correction on Bitcoin price chart.
Here you can see weekly chart of Bitcoin price. When we look at the major indicators, we can see why Bitcoin price can not go up.
Fisher Indicator is on the top and ready to reverse down. There is great resistance on RSI Indicator. This downtrend line is coming from 2 years ago. MACD Indicator is below 0 level.
RSI Indicator should break great resistance. Bitcoin price is under pressure by this great resistance.
So, we may see weak candles on Bitcoin price chart in a few weeks. Bitcoin price should make a price correction. There are great resistances on major indicator. It is so possible to see correction.
We will see..
Posted Using INLEO
Veo que el chart muestra una vela roja semanal de -4% y el Fisher Indicator ya está en la cima, tipo señal clara de reversa a la baja. ¿Creés que el nivel de resistencia en 82 K es tan sólido como para frenar cualquier intento de breakout en las próximas semanas? 🤔
Hey my friend! Spot-on technical analysis! Watching key resistance levels like that $82K mark is so critical for gauging market sentiment. Closing a weekly candle in the red after a doji definitely signals hesitation in the trend and tests investors' patience. Whether BTC breaks out or sees a short-term correction, tracking these price action setups helps us make strategic decisions. Great market update, mate! Thanks for sharing!