Is Bitcoin in a Long-Term Bullish Trend?

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In Brief
  • The Bitcoin price has created a weekly bullish engulfing candlestick and moved above a long-term descending resistance line.

  • There is weekly & daily resistance at $11,400 and $10,450 while support is found at $6500 and $9200.

  • The price has been following a steep ascending support line since the March 13 bottom.

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The Bitcoin (BTC) price has created a weekly bullish engulfing candlestick and moved above a long-term descending resistance line. Weekly Bitcoin Outlook In the weekly chart, the price of Bitcoin (BTC) followed a doji from the previous week by creating a bullish engulfing candlestick. It closed well into the doji resistance from last week, canceling the bearishness and possible reversal
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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