The weekly time-frame on the bitcoin market is one time-frame which i focus so much on whenever I want to make analysis and make predictions of the bitcoin market on the long term basis...
Looking at the weekly chart , the MACD have indicated a green signal , the Balance of power indicator is also a powerful indicator which have shown that the bulls currently have the strength on the bitcoin market on the weekly time-frame..
Whenever I get my trading signals from the weekly chart , I try to go to a lower time-frame like the daily chart in order to confirm the signal which I got on the weekly time-frame..
On the daily chart, there is a confirmation of the bullish signal , and looking at the chart we could see the price resistance forming at the last price of the parabolic sar indicator, the parabolic sar is an indicator which I do use to determine my support and resistance depending on the current trend of the market , the parabolic sar indicator shows that there is a strong resistance at $20,381 and if the price touches it and closes above it , then it means there is a trend change that have occured and the bitcoin market will continue its bullish movement..