🅱️ Bitcoin Weekly | Chart Update

This green line here represents the exponential moving average of 10 periods. Notice how Bitcoin (BTCUSDT) just moved below it this very same week.

👉 When Bitcoin moves below EMA10, on any timeframe, the bias switches from bullish to bearish.

Based on how we interpret the charts —technical analysis— only now, this week, Bitcoin turned bearish, and this needs confirmation once the week closes.

When a pair, a crypto, an asset turns bearish, it is not the start of a bullish wave but instead the start of a bearish wave.

So we can hope Bitcoin is going up but right now it is actually going down.

➖ When it moved from $40,000 to $50,000; that's up.
➖ When it moved from $60,000 to $74,000; that's up.

➖ When Bitcoin moved from $74,000 to $60,000; that's down.

The down move confirms the bearish potential.
Bearish potential confirmed = bearish wave.
Bearish wave = lower prices.

Here is Bitcoin's weekly RSI...

Thanks a lot for your continued support.

Namaste.