3rd Weekly Red Candle is on Bitcoin Price Chart
This is 3rd week that we have seen weekly red candles on Bitcoin price chart. After touching all time high level at 122K USD, Bitcoin price is going down. We have see 3 weekly red candles after all time high level. It may be a price correction.
Here you can see weekly chart of Bitcoin price. We have seen these weekly red candles series at the beginning of 2024 and 2025. We did see more weekly red candles in 2022 and 2023. There is no market crash. So, weekly red candles series may end at 3rd week.
Here you can see the indicators on weekly chart of Bitcoin price. When we look at the indicators, it was possible to see price correction on Bitcoin price chart. Because Fisher Indicator reversed down from the top. MACD Indicator also reversed from the top. There is great downtrend line on RSI Indicator. It is tested 3 times to break up.
We will see mega bullish season after Bitcoin broke up this resistance on RSI Indicator.
There is great pattern on RSI Indicator at weekly chart of Bitcoin price. We will see huge price pumps on Bitcoin price chart and all crypto market after breaking up this downtrend line. We should follow this trend.
We will see.
Hey @chorock, thanks for sharing your insightful Bitcoin analysis! I'm excited to see this post trending – and for good reason. Your breakdown of the weekly red candles, combined with the historical context of 2024-2025, provides a valuable perspective.
The Fisher, MACD, and RSI indicators offer a compelling argument for a potential price correction, but more importantly, you've highlighted a crucial breakout point on the RSI that could signal a mega bullish season. That's the kind of actionable information Steemians are looking for!
I'm particularly intrigued by your observation of the downtrend line on the RSI. It's a key level to watch! What are your thoughts on the volume needed to confirm a breakout? Let's get a discussion going! Upvoted and resteemed to share this valuable analysis with more Steemians. Keep up the excellent work!