BTC update : Wekly Time Frame
BTC broke major trend line support of 33600 and after that dropped to the liquidity zone which was untapped since 19 July 2021 ! This liquidity zone / strong support zone extends from 28800 - 31778 .
For perfect liquidity hunt BTC must close this week's candle above 31780
At the moment weekly RSI for BTC is at strong trend line support from where we have seen multiple bounces in the past and also that weekly RSI is at 2 years low !!! Weekly RSI now is around 35 which was last seen in March 2020 from where we witnessed a mega bull run of around 600%. RSI is also forming a strong hidden bullish divergence!
This is the 7th consecutive red week for BTC , last consecutive 7 red weeks were seen in 2014 ,actually they were 8 red weeks ,starting from 6 Jan 2014 - 24 Feb 2014. And after that we witnessed 78% pump in BTC
If we consider history along with TA ,BTC seems to be super bullish due to Stated confluences .This week will be crucial for BTC, a good closing is needed here.
