Bitcoin Price Should Close the Week Above 8-Week Moving Average

This is the last day of the week and Bitcoin price should close the week above 8-week moving average. It is great signal for midterm. Bitcoin price is an ascending channel. Even it tries to reverse up, It can not. Bitcoin price is close to the bottom level of this channel. It should not break down to continue consolidation.

Here you can see weekly chart of Bitcoin price. Bitcoin price is in weekly green candles after two succesive weekly red candles. We should see green weekly candles in next week. If not, we will see braking down this ascending channel.

Here you can see the indicators on weekly chart of Bitcoin price. Fisher Indicator is triyng to reverse up. There is downtrend line on Fisher ındicator. If we see weekly green candle in next week, this indicator will reverse up. If not, It will reverse down again.

MACD Indicator is close to reverse up. If we see weekly green candle in next week, we will see reverse up this indicator. If not, we will continue to go down.

There is great downtrend line on RSI Indicator. It is under pressure by this resistance.

So, we need to see green weekly candle in next week.

It is ho the week has importance. We should see weekly green candle in next week. If not, we may enter another market crash.

WW3 will continue in next week. We will see the updates on WW3. It will effect stock and crypto market.

We will see..

Posted Using INLEO