As the Bitcoin price weekly candle draws towards a close for the week we take a look at what the performance over the week looks like going into the final week of March.


Bitcoin price: 4-HOUR CHART

Looking at the4-hour chart, we can see that the bitcoin price has spent the last few days oscillating around the weekly opening price of $3965, with the bears continually attacking this level.

The MACD has broken through it zero line having turned bearish on the dump from the weekly highs at over $4056 all the way down to $3920, which along with a generally downward trending MACD implies that the bears are in control going into Sunday evening, however the bulls have proven to defend the weekly candle in the last two weeks of asking.

Should the bears want to define the weekly candle, the mid-week lows of $3920 will be the target, whereas the bulls will want to close above the weekly open of $3965.

1-DAY CHART

A look at the 1-Day Chart shows that bitcoin price is showing signs of struggle to complete the Adam and Eve and Inverse head…

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Source: https://thebitcoinnews.com/bitcoin-price-analysis-bears-look-to-trap-bulls-into-weekly-close/