BTC BITCOIN WEEKLY CHART ANALYSIS

4 มิ.ย. 2019it s really scary how powerfull a 4 year old trendline is. btc rejected at the trendline as expected and all indicators are toppy. sorry for not sharing this set-up earlier. i sold everything at 9k$. volume now declining
BTC dominance going down, could ignite an alts season party...

this upmove from the low 3k's was the first impulsive move after the long bear market.
NOW:
if we are really in a BULL MARKET, BTC has to BOUNCE off of the 20weekly MA as it always did in the past when btc was bullish.

Strong reasons for a bounce in the mid 6k'ish area:

-6k'ish was a long lasting support prior to the final breakdown.
-20MA will be in the 6k'ish area in a few weeks
- fibonacci levels 0.382 and 0.5 are in the 6k'ish
- bullish cross of 20ma and 50ma should happen in the mentioned fibo area.

conclusion: so if btc only wicks down the 20ma, wait. green candle close touching and staying above, very bullish.
for a perfect entry, look at the lower time frame charts when the time has come.
BUT if we have a weekly candle close below 20ma... DANGER

THIS IS NOT FINANCIAL ADVISE!