Another down week for Bitcoin and still no fireworks after the halving. The weekly candle looks very indecisive and grapples with 9K. BTC/USD weekly chart Bitcoin is heading for its second weekly bearish close and for the third week, the price has not been able to close above the magical 10K mark. The weekly chart below shows that the market is still in a technical downtrend with another potential lower high created. Although this time the wave low the price needs to break is pretty far down at 4K. The black downtrend line is the key technical level and if the price breaks above then there could be a run on the resistance zones above. On the downside, there are multiple support levels to look out for. The major moving averages are below current levels and 7K level has been a strong pivot zone in the past too. Importantly, the Relative Strength Index indicator is still above the 50 mid-line. This could mean that if we do make a wave low it could be a higher low and then the next major resistance is the 10K once again. Obviously, this scenario will take some time to play out so some patience will be needed. Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Top 3 Coins Price Prediction: Bitcoin and Ethereum face a lack of strong resistance levels on the upside – Confluence Detector FX Street 3 years Another down week for Bitcoin and still no fireworks after the halving. The weekly candle looks very indecisive and grapples with 9K. BTC/USD weekly chart Bitcoin is heading for its second weekly bearish close and for the third week, the price has not been able to close above the magical 10K mark. The weekly chart below shows that the market is still in a technical downtrend with another potential lower high created. Although this time the wave low the price needs to break is pretty far down at 4K. The black downtrend line is the key technical level and if the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
