Bitcoin Price Can Not Go up Even Good Signals are on the Chart

There are good signals on Bitcoin price chart. Due to this bullish signals, Bitcoin priec can not go up. Yesterday was the last day of the week and Bitcoin price closed the week above 8-week moving average. Bitcoin price is still in critical level. We will see the decision of Bitcoin price to go up or go down.

Here you can see weekly chart of Bitcoin price. Bitcoin price is above 8-week moving average which can show us midterm trend. You can see what happened after breaking up and weekly close above this moving average. Even We have seen weekly close above this chart we can not see bullish moves on Bitcoin price chart.

Here you can see the indicators on weekly chart of Bitcoin price. There is great downtrend line on RSI Indicator. This is why Bitcoin price is in resistance. There is also mini uptrend line on RSI Indicator. If we see weekly red candle, this mini uptrend line will be broken down.

MACD and Fisher Indicators are on the bottom and trying to reverse up. Even these major indicators are at good level for bullish trend, Bitcoin price can not go up. It may be a bullish trap on Bitcoin price chart. If we see weekly red candle, Bitcoin price may go down to reacht the target of possible bearish flag pattern.

We will see the decision of Bitcoin price until end of this month. It is possible to see bearish trend on Bitcoin price chart. We should be careful.

We will see..

Posted Using INLEO