BITCOIN: WEEKLY SCENARIO – 25 February 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 47,780.69 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: 38,430.20, TARGET:-36,430.20, STOP LOSS:- 39,430.20.

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