Bitcoin Weekly Technical Analysis – 08 March 2022

Bitcoin Weekly Technical Analysis

BITCOIN Price Technical Analysis: Weekly Chart

Bitcoin Weekly Technical Analysis
  • 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 51,943.80 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: 38,820.20, TARGET:-36,820.20, STOP LOSS:- 39,820.20.

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