BTC/USD weekly bull trend

2020年2月7日

Bitcoin continues to set new weekly candles to the upside and at this point the bull trend is pretty obvious. Since the beginning of the year BTC grew over 35% in a gradual manner. The 38% Fibonacci Retarcement indeed served as a support level and it seems like BTC is now heading towards 50%. Another strong indicator in favor of bulls is the fact that we have seen the close above 20-weekly moving average, retest and successful bounce of it. Historically, 20-weekly moving average has been a very significant support and resistance levels during bull and bear markets,