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Bitcoin Weekly Outlook
Best bitcoin weekly performance since the 12th Feb helped by an impressive short squeeze, sets sights on a retest of the 200DMA and 50% fib retrace of entire range.
This weekly chart also highlighting the power of slopes. In particular this long-term schiff pitchfork. The median line has provided support on the February collapse and the most recent 3 weeks. So in line with the 200DMA, the 25% line of this pitchfork also comes in at around ~$9800.
As we do approach key levels keep on eye on the daily RSI. Typically in a bear market the 60 level should hold, and has in fact held since the top in december:
This weekly chart also highlighting the power of slopes. In particular this long-term schiff pitchfork. The median line has provided support on the February collapse and the most recent 3 weeks. So in line with the 200DMA, the 25% line of this pitchfork also comes in at around ~$9800.
As we do approach key levels keep on eye on the daily RSI. Typically in a bear market the 60 level should hold, and has in fact held since the top in december:
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