BITCOIN WEEKLY SCENARIO – 02 March 2022

BITCOIN WEEKLY SCENARIO

BITCOIN  Price Technical Analysis: Weekly Chart

BITCOIN WEEKLY SCENARIO
  • In the weekly charts , BITCOIN is trading in a downward channel.
  •  BITCOIN is near its crucial support of 20-days SMA. If it breaks this support, it will possibly test the 50-days SMA level.
  •  BITCOIN will follow a downtrend in the coming weeks.
  •  BITCOIN’s crucial resistance level is at 51,994.50 which is near 20 days SMA as of now. There are no signs of a bullish trend.
  • Bears have their tight grip on  BITCOIN.

TRADE SIGNAL-BITCOIN  SELL: 44,200.20, TARGET:-42,200.20, STOP LOSS:- 43,200.20.

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