BITCOIN WEEKLY Technical Analysis – 22 February 2022

BITCOIN Price Technical Analysis: Weekly Chart

• 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 47,780.50 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: 37,480.20, TARGET:-36,480.20, STOP LOSS:- 37,980.20.