Bitcoin Weekly Chart - Simple Moving Averages

in #bitcoin • 6 years ago

https://www.tradingview.com/x/MnyZYYHT/

Simple moving averages on the weekly chart using fibonacci numbers 13, 21, 34 show a formidable resistance near the 7k level. It will be not easy to break through this resistance. A whale buying in or a very encouraging news would help in this case. Once the price breaks through the resistance and manages to stay above they will act as a support for a possible mid-term rally. If not, price might be pushed below the 6k support level and the bear market will gain momentum again.

Disclaimer: I am not a financial advisor. The crypto market is very volatile, make your own conclusions and invest at your own risk.

#crypto #chart #weekly #sma
6 years ago in #bitcoin by
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