#Btc clean and simple - Weekly chart
Simple structure on the weekly chart for bitcoin. Support seems to have been found on the previous weekly higher low. To add some confluence to this bullish market structure is the trend line that we have pulled back to. The higher the timeframe the more powerful it is. A weekly close above the highlighted zone with a good wick at the bottom gives me confidence of bullish sentiment still. If this level is lost then the tables definitely have turned. For now longs are still on the cards
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.