BTC/USDT (Interval 1W)

Last week BTC printed a strongest bearish candle and closed at $49k so we are short-term bearish but there are some other factors which need our attention, MACD on a weekly chart has turned bearish after 15 weeks which is not a good sign for long-term. MA50 support on weekly needs to hold strong for upward price movement otherwise we will go down to next support of $42K although price action is moving inside ascending triangle so if that pattern plays out then possibly $50K resistance will be broken. Overall on a weekly chart its showing bearish signs except 1 bullish pattern, All these whales can show bearish signs on chart and turn the tables by changing the direction of market to bullish. So we need to observe next few days to see how market will react.