Bitcoin price reversed down from 86K USD. After touching 86K USD, Bitcoin price got two weekly red candles. Bitcoin price tried to close the week above 8-week moving average and It happened.
Here you can see weekly chart of Bitcoin price. 8-week moving average is important average that shows us mid term trend. It is good to see Bitcoin price above 8-week moving average. Bitcoin price is still in uptrend.
There was mini uptrend line on Bitcoin price chart. Even it is broken down, Bitcoin price is on 8-week moving average.
Bitcoin price got two successive weekly red candles after three weekly green candles. It can said as price correction.
Here you can see the indicators on weekly chart of Bitcoin price. There was great resistance on RSI Indicator. It is broken up. This is why I am so bullish for Bitcoin price. It was great resistance on Bitcoin price chart and It is broke up. We may see long term bullish trend on Bitcoin price chart. Fisher Indicator reversed down from the top. Even it reversed down, we may see a few weeks for price correction.
MACD Indicator is trying not to reverse down. We should see MACD Indicator increasing..
Even we saw two successive weekly red candles, Bitcoin price is still in bullish trend. We may see Bitcoin price going up in next weeks.
We will see..