Bitking786

BTC closed around 46.6k and looks good to me on weekly chart!!

BYBIT:BTCUSDT   BTCUSDT Perpetual Contract
Technical Analysis: Bitcoin (Weekly chart UPDATE):-

BTC closed around 46.6k and looks good to me on weekly. We might see a wick down to liquidate the remaining longs and push to the upside from there.

Reclaiming the 50D MA is what BTC needs in the next candle close. btc make an ascending tringle and its playout very well, btc now down at lower support and try to rebuild another leg upside and RSI also making bearish Divergence which playout right now as well as retested the pervious trend line !!

First time since 27th April 2020, Weekly Candle Closed Below the MA50
Now, All Eyes on 44k Crucial S/R Level

If Bitcoin Bulls lost the 44k S.R As Well, Bitcoin Might Retest the 29k Support in January 2022.

In Bullish Case, If Bitcoin Remains Above the 44k Support, Bitcoin Might Bounce Back towards the 60-61k Area

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