Bitcoin Technical Analysis: A Comprehensive Review of The Weekly Chart

The Cryptocurrency market closed on a high last week with all major cryptos finishing the week on a relative high.  A reasonably strong close for the first week of November has many analysts once again facing the question if the bottom is in. 

Here we take a look specifically at the market leader, Bitcoin (BTC) 00, to see if an end is in sight for the bear market. Not to mention what we need to be looking for, focusing specifically on the most traditional indicators — price, moving averages and what is commonly overlooked but is arguably the most important indicator for many, volume.

We have exhausted looking at descending wedges, triangles and redrawn levels of support time over, so I will specifically not cover that here – please review my previous work.

Weekly Chart

Assuming Bitcoin remains above $5780 for the remainder of this week, Bitcoin will have traded above $5800 for a full 12 months.  This comes at a time where price action continues to reach for all time…