Weekly Review
Bitcoin has had a bullish week, especially toward the end. We had a huge move pushing us to new highs that we haven’t seen since the 17th of January. currently we have a buy signal on the daily chart with a bit of bullish movement still speculated to be seen in the coming week. I believe that we will see a consolidation around the 48000 price point. Of course there is always the possibility that we will have further bearish momentum but I believe that rally has ended. If however it hasn’t then seen lows around the 32000 level should be expected as the next level of lows.
The Hourly chart is showing that the price action has been sideways, so much so that I can say that I don’t remember the last time i’ve seen Bitcoin so uniformly sideways in a while. The MACD is looking as if whatever bearish momentum is fleeting which leads me to further believe that the pair is heading to further its bullish rally. This coming week should be exciting to see what takes place. Any trades will be called out on the discord group.
