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Bitcoin Definitely Moving Lower, At Least $9280, Weekly Analysis

We looked at Bitcoin short term (4H scale) and we saw it going lower… Now, we are looking at the weekly chart and it isn’t looking good… But, before we get started.

Bitcoin (1W) Chart Signals & Analysis

  • We are looking at a lower high on the weekly time frame. This weeks candle is about to close. 
  • Notice the last two red candles, both have a long wick pointing down and above average (high) bear volume . 
  • Bitcoin grew from $3120 to $13,800+, after such grow, a retrace is as normal as it goes. 
  • The RSI hit its highest level since October 2017, it reached overbought and now is looking down and bearish . 

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Bitcoin Will Move Up Only After Going Lower levels

ABBC Coin (ABBC) buy signal