Long Term Update: Weekly Chart

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Weekly Chart XBTUSD

In recent weeks the XBTUSD cross has finally accelerated to the upside after an accumulation period lasted two months, now it has reached the first resistance of the bullish price channel based on the weekly chart.

This area of resistance starts at $ 750 and ends at $890. I believe that the next top will fall in this price range, precisely between 750 and 890 US dollars. Because of the long-term trend still up i think that bitcoin could make a maximum higher than the previous one of June, it is not excluded a Top around $ 900 as shown in the weekly chart.

For those unwilling to risk it is not wrong to take profit at these price levels and eventually reopen the position once the $750 resistance level is broken.

Italian version here at Bitchanger.

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4 thoughts on “Long Term Update: Weekly Chart

  1. Hi Enky – I have ZERO knowledge of up”s and Downs of BITCOIN – You are a beacon of light and I slavishly follow your Blog – ( I am sure thousands follow you) many thanks – Timothy

    1. the weekly alma moving average near $660, at 630 there is the 2 months vwap, but if it goes to 630 then the top is probably in. Let see what’s happening next

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