[BTC] Bitcoin Weekly Long term (Bull Resistance vs Bear Support)

Here is my weekly chart with:

• Bollinger bands.
  
• Bull strength confirmation resistance.
  
• Bear disaster support.
  
• Trendlines.
  
• Different support levels.
  
• Duration of bear market.
  
• Main targets/resistance long term.
  

Chart screen shot:

Everything is pretty clear on the chart.

• Breaking bull resistance put us in the bull market.
  
• Breaking bear support keep us longer on bear market.
  

You agree?
Please leave your comments below...

Thanks a lot for reading and have a great weekend.

Namaste.

Comment:

Bull/Bear Resistance/Support.
Depends on how you look at it. Just a detail, not really important.

Bull resistance, because that's the resistance the bulls need to break to go up.

Bear support, because that's the support the bears need to break to continue bear mode for very long.

Comment:

Previous analysis:

Comment:

We have a Doji on the daily time frame.

The Doji can signal a change of trend...

Comment:

Look at the huge volume on the Korean exchange:

- Even though there is only below average volume for BTCUSD, the Korean's are buying as if Bitcoin is going on a bull run soon. They are accumulating more than anybody now...

- Take a look at the chart above. The volume is represented by the red/green bars at the bottom of the chart. The fart right is this week.

Comment:

These trend lines continue to hold:

Comment:

The weekly candle is looking really good now. We can end up with a hammer with a good close this week:

Comment:

Here is our weekly close. We have a green bullish candle yet we can still retrace here. We are in a position of lost of pressure, resistance and support... The trend lines on the charts will tell you everything:

Close up:

Comment:

We have potentially a very good week ahead of us. Today is Monday and Bitcoin woke up with massive strength. A follow up to this action and this week can turn out great.

I will come out mid/late week and post an update.

Namaste.

Comment:

We have a "inverted hammer" candlestick this week.

Closing this week with this candlestick, yet to confirm (weekly candle closes tomorrow), it will count as an additional point for the bulls.