Bitcoin Price got Weak Weekly Red Candle After Green Candle Series

There were weekly green candles series on Bitcoin price chart. Bitcoin price got 4 successive weekly candles. It was the longest weekly candle series in this year. We have not seen these green candles series since last year. After this green candle series, Bitcoin price got weak weekly red candle. It might be green but It may be for correction.

Here you can see weekly chart of Bitcoin price. After touching 60K USD level, Bitcoin price is in an ascending channel. Bitcoin price was going up slowly but there is no correction after touching the bottom line of this channel.

This week started with green candle. There was mini uptrend line on Bitcoin price chart. After breaking down this mini uptrend line, Bitcoin price is trying to go above this mini uptrend line again.

Here you can see the indicators on weekly chart of Bitcoin price. Fisher Indicator is going up. It may go up for a few weeks. MACD Indicator reversed up from the bottom.

We may see mini bullish trend on Bitcoin price chart for a few weeks. I will shared when Bitcoin price reverse down. This mini uptrend may continue until end of May.

Even Bitcoin price got great weekly green candle series, It is still in an ascending channel. We will see breaking down this channel after end of this May. We should be ready for this scenario.

We will see..

Posted Using INLEO