#BTCUSD , Bitstamp , Weekly Chart

in #trading7 years ago

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#BTCUSD , Bitstamp Weekly : The weekly Candle closed as a continuation Candle showing strength of slow uptrend and after a long time of 11 months (April 2018) we have seen 4 Green Weekly Candles, which is a very good sign for market. MA 200 has worked twice successfully as strong support. The only concern on weekly chart is we are close to Diagonal resistance which has worked 5 times in the Bear Market already and in the recent uptrend we have only weak candles (small candles), we need to have a strong Candle soon to strenth the uptrend and hit the unfilled zone between 4700-5600. This weekly Candle is very importnat for the Trend of Bitcoin, if we touch the Diagonal resistance, it also shows a bullish move to 4120-4250 👍🏻