Markets Technical Analysis

Is Bitcoin in a Long-Term Bullish Trend?

By Valdrin Tahiri
Updated by Kyle Baird
Share Article
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.

  • promo

    Top Crypto Exchanges Without KYC Read Now

The Trust Project is an international consortium of news organizations building standards of transparency.
Is Bitcoin in a Long-Term Bullish Trend?
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
×

BeInCrypto Premium - Register for FREE now.

Register Now!

BeInCrypto Premium - Register for FREE now.

Upgrade to continue reading

Register Now!
Share Article

Related topics

Valdrin Tahiri
Valdrin Tahiri

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.

Follow Author

More Articles

RELATED NEWS