There is another factor related to the monthly average of the MA20 for . Currently, the average monthly session is at $ 7009, if at the end of March, the price of Bitcoin closed above this level, two things happened. One is that Bitcoin will maintain its long-term uptrend, and add a month's to the trend of strong growth.
This is a hypothesis for the weekly frame when Bitcoin walks in the
Next we look at the index on the weekly frame. Obviously looking at 2020 and comparing to 2015, Bitcoin has both collapsed and broke the uptrend line. But immediately after that there appeared a V-pattern and the buying force was pumped up very quickly. The most noticeable factor is that both collapses show that the index falls from the overbought area and has a divergence. We will consider because this may be a factor showing good buying power.
The next factor we will consider the week frame. When Bitcoin entered an uptrend from 3200 and corrected to a pattern, then Bitcoin broke upward to continue the trend, and apparently just last fall, pulled Bitcoin back. the lower line of the model falls in price and breaks above the pattern at the current price. I assess that we are still in an uptrend.
The chart on H6 frame I have analyzed in detail here, please refer to:
We consider the of transactions on the weekly frame. Obviously, the recent collapse for buying force has bottomed out stronger than 2 times before. And looking at the of transactions by price, the price of Bitcoin over $ 8000 will bring positive sentiment to the market.
Looking at the recent H4 trading chart, we can see how Bitcoin is being gathered and how strong the buying force is: