Next week is important for Bitcoin price to continue bullish trend. Bitcoin will close below 8-week moving average in this week and It is important to being above during bullish trend. We have seen this scenario 3 time before in 2023. When Bitcoin makes weekly close below 8-week moving average, We saw huge pump to continue bullish trend. I showed it as green line.
Here you can see weekly chart of Bitcoin. I drew green and red lines. When Bitcoin closed weekly candle close to 8-week moving average, we saw huge pump or mini bearish trend. Next week will be decision for Bitcoin to continue bullish trend or entering mini bearish trend..
When we look at the indicator of weekly Bitcoin price chart. It does not seem as good. Fisher Indicator is reversed from the top. MACD Indicator may follow it...
If we see red candle in next week, MACD Indicator will reverse and we may enter bearish trend.
Next week will be important. There will be full moon on sky. FED meeting is also coming soon. We will see what will happen...