We have seen 3 weekly green candles in last 4 weeks on Bitcoin price chart. Even it is good ratio, Bitcoin price can not go up. It is still below 8-week moving average..
Here you can see weekly chart of Bitcoin price. There is possible bearish flag on Bitcoin price chart If we see red weekly candles after these green weekly candles series, Bitcoin price will break down 100-week moving average which is great support for this chart. You can see what happened after breaking down this great support line. It may be the trigger to start to draw bearish flag on Bitcoin price chart.
Here you can see the indicators on weekly chart of Bitcoin price. MACD and Fisher Indicators are trying to reverse up after getting weekly green candles.
There was great bullish pattern on RSI Indicator. It is broken down a few weeks ago. We need to see the new pattern on this indicator. It may take more weeks to start new pattern. After breaking down great pattern, It may take long time to set up new one..
So, we need to see Bitcoin price above 8-week moving average. It is the first target. After this target, we need to see reverse upn on major indicators. There is great danger to break down 100-week moving average on Bitcoin price chart. We should be ready for possible market crash..
We will see..