Bitcoin Price Closed the Week Below 200-Week Average

200-week moving average is great support level for Bitcoin price chart. Bitcoin Price closed the week below this average. It is market crash time before bullish season. Bitcoin price is close to end of bearish season. We have see breaking down and closing the week below this average. We may spend a few weeks below this average before bullish season.

Here you can see weekly chart of Bitcoin price. Even we have seen weekly close below this average a few weeks ago, It was only a bearish trap. Bitcoin price went up and closed a few weeks above this average. We may not see the same scenario. We may see a few weekly close below this average.

Here you can see the indicators on weekly chart of Bitcoin price. There is great resistance on RSI Indicator. It is too early to say that We are close the bullish season. We should see breakin up the resistance on RSI Indicator. It is one of the greatest resistance on RSI INdicator. Fisher Indicator may reverse down again from the middle level. MACD Indicator is trying to get ready for bullish season.

So, We may see more weekly red candles while Bitcoin price is below 200-week moving average. Bitcoin price will be under pressure of this great average.

We will see..