Weekly price correction appeared on Bitcoin price chart. There was weekly green series on Bitcoin price chart. Bitcoin price got 4 successive weekly green candles. After this green candles series, Bitcoin price got weak weekly candle and continued green series. Last week Bitcoin price got huge weekly red candle.
Here you can see daily chart of Bitcoin price. Bitcoin price is an ascending channel. Bitcoin price broke down the middle line of this channel. Even it broke down this great support, Bitcoin price is still above 8-week moving average. It is important average for midterm trend.
Here you can see the indicators on weekly chart of Bitcoin price. Fisher Indicator is on the top. It will reverse down in a few weeks. We may see reversing down if we see weekly red candle. Bitcoin price should not get any weekly red candle not to reverse down this indicator.
MACD Indicator is still below 0 level. It need a few weeks to reach good level.
There is great resistance on RSI Indicator. It should be broken up to see the new bullish pattern. Bitcoin price is in still bearish pattern.
Bitcoin price chart need time to complete correction. It went down fast. It need time to get in bullish season again.
We will see..