{"id":392813,"date":"2019-08-12T10:00:11","date_gmt":"2019-08-12T10:00:11","guid":{"rendered":"https:\/\/ktsl888.com\/?p=392813"},"modified":"2019-08-12T11:36:31","modified_gmt":"2019-08-12T11:36:31","slug":"will-bitcoins-bullish-weekly-close-lead-to-further-gains","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/will-bitcoins-bullish-weekly-close-lead-to-further-gains\/","title":{"rendered":"Bitcoin Hits Highest Weekly Close Since January 2018, Showing Strong Momentum"},"content":{"rendered":"

After spending the best part of the past week consolidating, Bitcoin took a turn south over the weekend. On the bright side, the king of crypto registered its highest weekly close for over a year. Will it lead to further gains?<\/p>\n

Highest Weekly Candle for 18 Months<\/h2>\n

Today\u2019s Asian trading session has been the complete opposite of last Monday\u2019s. The sellers are piling on the pressure as Bitcoin fell from $11,580<\/a> to just above $11,300. A death cross as the 50 hour moving average fell below the 200 hour MA could spell further losses on this time frame. The opposite golden cross on the four hour chart paints a different picture though.<\/p>\n

Another long term indicator is the weekly candle chart which is still very bullish despite the attack of the bears over the weekend. According to charts on Tradingview.com<\/a> Bitcoin closed the week just north of $11,500.<\/p>\n

\"bitcoin\"<\/a>
BTC weekly chart. Tradingview.com<\/figcaption><\/figure>\n

The chart shows that Bitcoin closed at a similar price level for two weeks in February 2018. Depending on which exchanges prices are taken from, it could be even further back. Trader going by the twitter handle \u2018Nunya Bizniz\u2019 added that it was the first weekly close above the 50% Fibonacci level since January 2018.<\/p>\n

\u201cHighest weekly close since Jan 2018.
\nFirst weekly close above 50% Fib since Jan 2018.
\nBullish?\u201d<\/p><\/blockquote>\n

\n

BTC: Weekly<\/p>\n

Highest weekly close since Jan 2018.<\/p>\n

First weekly close above 50% Fib since Jan 2018.<\/p>\n

Bullish? pic.twitter.com\/1Mvh1W8ndc<\/a><\/p>\n

— Nunya Bizniz (@Pladizow) August 12, 2019<\/a><\/p><\/blockquote>\n