Bitcoin Price Reversed Down Before Touching 100-Week Moving Average

100-week moving average is one of great resistance on Bitcoin price chart. Bitcoin price was going up while breaking up great resistances. After breaking up 82,5K USD level, we have seen higher high pattern on Bitcoin price chart. Bitcoin price reversed down before touching one of great resistance.

Here you can see weekly chart of Bitcoin price. You can see the importance of 100-week moving average. This average supported Bitcoin price. After breaking down this average, Bitcoin price went down fast. You can see what happened after breaking up average in 2023. Bitcoin price went up fast. This is the importance of this average.

Here you can see the indicators on weekly chart of Bitcoin price. There was great downtrend line on RSI Indicator. It is broken up. Even it is broken up, we have not seen weekly huge green candles. We should be careful. Market market always makes fake moves. We may see another fake move on Bitcoin price chart. We should wait for a few weeks to be sure that Bitcoin price broke up this great resistance.

Fisher Indicator is on the top. If we see weekly red candles, it will reverse down. MACD Indicator is going up slowly but it is still below 0 level.

We may see reversing down on Bitcoin price chart.

82,5K USD is great support level for Bitcoin price chart. We will see how it will support Bitcoin price. If it is broken down, we will see weekly huge red candles.

We should be careful in this week.

We will see..