This is 3rd week that Bitcoin price in red candle. We have seen 6 weekly red candles series in this year. It caused market crash. We are in 3rd weekly red candle. If this red candles serie continues we may see market crash.
Here you can see weekly chart of Bitcoin price. It got huge weekly red candle this week. After this weekly huge red candle, Bitcoin price is below 8-week moving average. This average is so important for midterm.
Bitcoin price is also below 75K USD support level. Bitcoin price also broke down the bottom level of great ascending channel which is one of great support level. Weekly chart of Bitcoin price appears bearish.
Here you can see the indicators on weekly chart of Bitcoin price. Fisher Indicator is on the top and reversed down. You can see what happened after reversed down from the top.
MACD Indicator is below 0 level. It was going up slowly. If we see weekly red candles, we may see reversing down on this indicator.
There is great downtrend line on RSI Indicator. This indicator may reverse down without tocuhing this resistance. It is impossible to see bullish season without breaking up this great resistance.
We are close to market crash. Bitcoin price should go up. If we see red weekly candle next week, we will enter the new market crash.
We will see..
