On a weekly timeframe
there is an important event worth noting, 50-day moving average crossed above 100-day moving average. Last time this occurred in May 2016 and resulted in 950% price increase. This could have been an immensely bullish
sign, if not for bearish
divergence on a weekly RSI
, that suggests the opposite in the longer term. Moreover, according to weekly EMA
ribbon, we are still in a bear market and BTC
would require a lot of strength to break above it.