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 47,780.69 which is near 20 days SMA as of now. There are no signs of a bullish trend.
- Bears have their tight grip on BITCOIN .