Bitcoin Got Green Weekly Candle to Break the red Candle Set

There were 3 red weekly successive candles on Bitcoin price chart. Bitcoin price closed last week with green candle to break the red candle set. We have now seen 5 red weekly candle series since Luna Crash May 2022. So, market maker may continue to show us more weekly red candles.

Here you can see weekly chart of Bitcoin for a year. There is no 5 successive weekly red candle on this chart. If Bitcoin price chart had got red weekly candle in last week, we would see 5 successive red weekly candle in this week. This is why market maker tried to close the week with green candle.

Here you can see the indicators on weekly chart of Bitcoin. I am waiting for a market crash for midterm. There is negative divergence on RSI Indicator on weekly chart of Bitcoin. We may see huge price drop on market to make this negative divergence..

MACD Indicator is also at bearish position. We should watch the complete the correction on MACD Indicator. It may take a few weeks to complete this correction. It is hard to see bullish trend on Bitcoin price chart without complete correction and negative divergence..

So, we should wait to see reaction of negative divergence on RSI Indicator and complete of MACD Indicator correction.

After Indicator complete patterns, we may see bullish trend on Bitcoin price chart.

We will see...

Posted Using INLEO