Bitcoin Price Can not Go Up Even It Supoorted by Major Support

Bitcoin price is suported by 100-week moving average. It is one of major support for this chart. Even it is supported by this major support, Bitcoin price can not go up. It is still in low range candles.

Here you can see weekly chart of Bitcoin price. Bitcoin price is still below 8-week moving average which is the signal of midterm trend. There is also great bearish flag pattern. If we see weekly red candle on Bitcoin price chart, Bitcoin price will start to reach the target of this bearish flag pattern.

If Bitcoin price breaks up this triangle, We will see uptrend on Bitcoin price chart as May 2025. I drew the similarities between 2025 and 2022.

Here you can see the indicators on weekly chart of Bitcoin price. There was great uptrend pattern on RSI Indicator and It is broken down. Fisher Indicator is on the bottom and trying to reverse up. MACD Indicator is also trying to reverse up nut It need a few weeks to reverse up.

So, we need more weeks to enter new pattern on RSI Indicator.

Under normal circumstances, the Bitcoin price should have reacted, but it didn't. Because of this, we should be a little cautious. The market may be pricing in things we don't know about.

We will see..