Bitcoin Weekly Range Sweep

Bitcoin printed a lovely weekly candle - a hammer with a long wick down and small bullish body. This is often a sign of strengthening demand (buyers buying up the dips) and of a bullish reversal. That said, this is still just trading in a range, with price sweeping those range lows on higher time frames. Not much to get excited about until we break through the range highs, which is far away at the moment.

The sweep of the lows is encouraging - usually that means we eventually test the top of the range as well.