Hello fellas, welcome to the new week, I hope this week we can be wiser, patience and being more accurate. Let's see the weekly candle on bitcoin here. Just like usual, using bitfinex market price.
I want to give an extra highlight to the green support trend line for bitcoin. It plays an important role for current bitcoin's movement and this could be an example of how the resistance that become the support work. After a break out of this green line which acted as resistance at april 2019, this time is the first time that the price touches again the extended of the previous resistance and this simply act as support trend line. we have seen a sign of reversal with the green candle closure at least. Beside that, we have seen a strengthening MACD in this new weekly candle. however, this ticking up on the histogram hasn't impressed me yet because this is still the beginning of the week and still a lot of time to pass until current weekly candle closed.
The second highlighted factor will be on the yellow zone which previously was acting as a support. After the break down on September 24th, we haven't seen any retest action to this level again. I still believe there will be one more wave going up to the upside before further drop to the white region which act as major key level for bitcoin. Right now just put your attention to this coins and be wise.
I want to give an extra highlight to the green support trend line for bitcoin. It plays an important role for current bitcoin's movement and this could be an example of how the resistance that become the support work. After a break out of this green line which acted as resistance at april 2019, this time is the first time that the price touches again the extended of the previous resistance and this simply act as support trend line. we have seen a sign of reversal with the green candle closure at least. Beside that, we have seen a strengthening MACD in this new weekly candle. however, this ticking up on the histogram hasn't impressed me yet because this is still the beginning of the week and still a lot of time to pass until current weekly candle closed.
The second highlighted factor will be on the yellow zone which previously was acting as a support. After the break down on September 24th, we haven't seen any retest action to this level again. I still believe there will be one more wave going up to the upside before further drop to the white region which act as major key level for bitcoin. Right now just put your attention to this coins and be wise.
