Weekly Close is not At Good Level on Bitcoin Price Chart

I shared an analysis two days ago and I said Bullish Weekend is Waiting Crypto Market. It was a bullish weekend for altcoins. Bitcoin price went up a few. It is not enough to return the trend. Bitcoin price is in price correction for three weeks. Halving and War crisis effected Bitcoin price and entered price correction.

Bitcoin did need price correction. It was going up without any break. Even Bitcoin price closed March and the last week of March with very bullish candles, Bitcoin got three weekly candle afteri this bullish close. It might be a bearish trap..

Here you can see weekly chart og Bitcoin. Bitcoin price is at below 8-week moving average. This is signal for midterm trend.

MACD Indicator is trying to reversing. If it reverses, price correction may take long time. We may wait until July or August..

Fisher Indicator is also reverse. We are in price correction. We will see mini bearish season. Correction is not completed. We are only at the beginning.

We will take a breath after breaking up the downtrend line on daily RSI Indicator. Here you can see daily chart of Bitcoin and Bitcoin may take a breath after breaking up this downtrend line.. There is support line coming from 25K USD. Bitcoin price touched this support line at 38K. Bitcoin price may retest againg in 52K..

Even mini pump seems on daily chart of Bitcoin, this price correction may take long time.

It may be good time to buy a few every week until Summer. We will bullish Autumn in this year. It will take until 2025.

We will see..

Posted Using InLeo Alpha