Bitcoin Weekly: Is it Too Late to Buy?

Big Picture

6 consecutive bullish weeks for bitcoin
  • Bitcoin closes its 6th consecutive week in the green, gaining over +3%.
  • Volatility is taking a breather as volume decreases.
  • Bitcoin is expected to move around $656/day.
  • Bullish trend remains in play, but momentum begins to cave.

Key Price Levels

Weekly Key Price Levels

  • Support: $15,888
  • Resistance: $16,491

Monthly Key Price Levels

  • Support: $13,901
  • Resistance: $17,068

The Clock is Ticking, but Bulls are Strong

A bearish divergence is a sign of a shift in trend
Bitcoin is expected to move around $656 per day. If volume continues to decrease, so will bitcoin’s daily average range

What’s Next?

Bitcoin’s exponential moving average 8 (EMA8) serves as the best support
Head and Shoulders formation indicates a shift from a bullish trend to a bearish trend

Trading Strategies

All trading strategies bear some risk. DO YOUR OWN RESEARCH!

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