BITCOIN TECHNICAL ANALYSIS & SIGNALS - CAPITAL STREET FX

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BITCOIN PRICE TECHNICAL ANALYSIS: WEEKLY CHART

Bitcoin Technical Analysis
  • In the weekly charts, Bitcoin is trading in a downward channel.
  • Bitcoin is near its crucial support of 20-days SMA. If it breaks this support, it will possibly test the 50-days SMA level.
  • Bitcoin will follow a downtrend in the coming weeks.
  • Bitcoin’s crucial resistance level is at 51,994.80 which is near 20 days SMA as of now. There are no signs of a bullish trend.
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