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Bullish Indicators for Bitcoin on the Weekly Chart

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Kevin Svenson analyzes the recent price movements of Bitcoin using the daily and weekly charts. On the daily chart, Bitcoin has just exited the current price channel and is turning the previous resistance in a new support level. On the weekly chart, BTC posted a new weekly candle and is getting constant bullish indicators.

Overall, Bitcoin is trading over the $9,000 mark and is trying to get past the 200 Day Moving Average, however, the cryptocurrency usually trades sideways just before the halving and it might be tough to break. Kevin believes that at the current price we should be accumulating coins.

Here is a recent Bitcoin technical analysis with the halving in mind.

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