Bitcoin Closed Last Week Above 8-Week Moving Average

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Yesterdar was the last day of last week. Bitcoin closed last week above 8-week moving average.
I shared lots of analysis and said the importance of 8-week moving average. Bitcoim pumped on the last day of the last week to go up 8-week moving average to close above this average..

Here you can see weekly chart of Bitcoin. There is 8 week moving average and you can see the trend above this average.

It may be pump signal for Bitcoin. I may be bullish trend signal for Bitcoin. I think bullish trend will continue until halving..

Even it seems very bearish on weekly chart of Bitcoin a few weeks ago, After Bitcoin pump and closing above 8-week moving average, it seems very good and bullish. Bitcoin may be getting ready for bullish trend. It may be preparation for breaking 48K resistance.

Here you can see the indicators on Bitcoin price chart. Fisher Indicator is trying to reverse. I circled the reversing.

MACD Indicator is also trying to not breaking green. It says, It is still in bullish side.

There was a downtrend line on RSI Indicator. It is broken up now and we may be bullish trend.

These are the reasons to see bullish trend until halving..

I was bearish for Bitcoin and crypto market at the beginning of this year. We may continue bullish trend until halving. I will make analysis after halving..

We will see..

Posted Using InLeo Alpha

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although Im not selling anything I have, only Bitcoin and Hive; mainly because I bought most around 18k so no need to sell but I still believe that this type of drops will continue to happen before halving keeping the price stuck in a range, the ETF energy is fainting and rn does seem like there is nothing new and shiny in crypto, Im still positive that closer to the end of 2024 prices will start to go up fast

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What is your price target for Hive?

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anything above $35k on BTC is fine and for Hive current price looks great

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