Analyzing Bitcoin’s Weekly Close and Future Trend

Updated by Kyle Baird
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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