6th Weekly Red Candle is on Bitcoin Price Chart

This is 6th week Bitcoin price chart got these red candles series. We have not seen these weekly red candles since 2022. Today Bitcoin price is trying to reverse up. If it reverses up Bitcoin price will complete these weekly red candles series.

Here you can see weekyl chart of Bitcoin price. After breaking down 100-week moving average, Bitcoin price went down fast. 200-week moving average is waiting to support Bitcoin price chart. Bitcoin price is trying to reverse up without touching this average.

Here you can see the indicators on weekly chart of Bitcoin price. RSI Indicator is close to all time low level. After Luna crash Weekly RSI Indicator was at all time low level. MACD Indicator is all time low level now. Bitcoin price chart needs a few green weekly candles to reverse up MACD Indicator. Fisher Indicator is still going down. It needs a few weeks to reverse up.

So, we may see a few weekly green candles in next weeks. Even Bitcoin price reverses up, There is great downtrend line on RSI Indicator.

So, We may see mini uptrend on Bitcoin price chart from this level. If we see, lots of influencers and investor try to get hype all investors. It will be only a bullish trap. Bitcoin price should touch 200-week moving average for true reversing up.

We will see..