Markets Technical Analysis

Analyzing Bitcoin’s Weekly Close and Future Trend

By Valdrin Tahiri
Updated by Kyle Baird
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In Brief

  • The Bitcoin price has created a shooting star weekly candlestick inside the $10,400 resistance area.

  • The daily chart shows a bearish divergence developing.

  • Bitcoin has broken out from a short-term descending resistance line and could increase back to $10,000.

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The Bitcoin price began the week of June 1 with a considerable increase, reaching a high of $10,380. However, the price dropped sharply afterward, creating a long upper-wick and possibly a reversal candlestick. Bitcoin Weekly Close The Bitcoin price has been following a descending resistance line since the all-time high price reached in December 2017. At the time of writing, the
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Valdrin Tahiri

Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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