Bitcoin Weekly (Long-Term W TA)

17 de fev. de 2022

The weekly/long-term chart for Bitcoin is giving out the same signals as the shorter timeframes, let's look at those.

Last week, BTCUSD closed with the bearish shooting star candlestick pattern.

This candle needs confirmation/can be negated of course, but the local resistance has been clearly set in the range of $44,000 to $46,000.

This resistance matches lasts weeks candle high, also coincides EMA50, EMA21 and EMA10 and the 0.618 Fib. retracement support for the last bullish wave.

This is the most important price resistance level short-term.

As long as Bitcoin weekly stays trading below 44K to 46K, the potential is big for the correction to resume any day.
If this price range can be conquered by the bulls, Bitcoin can easily hit beyond 50K.

Additional details on the chart.

Namaste.