Bitcoin Price May Close the Week Below 200-Week Moving Average

about 4 hours ago

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...

Posted Using INLEO

hive-167922 proofofbrain neoxian palnet cent ctp bitcoin analysis vyb posh

0.000

1 comments

@hivebuzz 74

about 2 hours ago

Congratulations @chorock! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)

	You have been a buzzy bee and published a post every day of the week.

_{You can view your badges on your board and compare yourself to others in the Ranking}
_{If you no longer want to receive notifications, reply to this comment with the word STOP}

0.000