$BTC Weekly - Decision Point

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
  • Let's zoom out and take a look at the weekly timeframe

  • The price couldn't break the main downtrend line. Could say this is another false breakout just like May 2019

  • On the other hand, come this time the market is very bullish . Just had the Bitcoin halving we've all been waiting for since it last halved in 2016, and da global pandemic with J Pow going brrr with the money printer

  • Right now is the decision point for Bitcoin . Are we going to see a dump back down to $7750 or continued consolidation along $8650 until it breaks out sideways of this downtrend

  • I think the latter. Can see this by the MACD weekly confirming trend reversal we're about to go up

  • The next few weeks is crucial, if Bitcoin dumps it's going to stay low price all summer going into the fall

  • Currently waiting on this monthly close to tell us where price is going, close above $8650 will be good going into the summer

  • Everybody still calling $4000 Bitcoin has a small balance, bears had their shine during coronavirus.

Thank you bears for your money!!!! Long since $4800 1st touch of the uptrend.


Wow looks great. The zoomed out timeframe always helps out
+1 Reply
kyer ThawonP
@ThawonP, Thank you!
Let me know your thoughts!
+1 Reply
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