Bitcoin Weekly Bullish Divergence
The weekly chart gets BTC's macro trend better than any other time frame. It has accurately shown a reversal whenever it occurs. While we are still in a down trend channel until we break out of it, in my opinion, bullish divergence on the weekly chart should give BTC enough momentum to break the 200MA upon a second retest, which now sits around the 9K level.
If Bitcoin succeeds in breaking this area and begins to close above its previously weekly highs around $9500, it would be a confirmed reversal on a weekly timeframe which would point to a high probability of upside continuation for the months, and possibly years to come.
If Bitcoin succeeds in breaking this area and begins to close above its previously weekly highs around $9500, it would be a confirmed reversal on a weekly timeframe which would point to a high probability of upside continuation for the months, and possibly years to come.
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