After the weekly close, the weekly chart did not look good. There is a long legged doji candle which is the signal of trend end...
Bitcoin is trashing technical analysis this year. Let's see if it throws this away.
Even though it drew a pretty bad candle on the weekly chart, the indicators have not yet reached the overbought zone.
This may be an indication of a break.
The lack of a strong signal in volume and new money entry does not FOMO people.
Bearish Signals:
-Long Legged Doji
There are lots of similarities between BTC weekly chart and below... There is the most clear bearish signal of BTC weekly chart.
- Daily Chart and Indicators:
Here is daily chart of BTC and MACD indicator. MACD went to the moon as February...
It may do a correction or it may turn the trend. We will see...
These are the most clear bearish signals for BTC. There are also bullish signal on the chart. I will share the most bullish signals for BTC in a few later...