The examination above regarding Bitcoin and the weekly period views has just been started. Despite the fact that Bitcoin is currently holding above the 40,000 USD, there are still major resistances above, so in the event that Bitcoin reverses from this, it will be necessary for Bitcoin to reclaim the psychological level of 40,000 USD, which is significant since important formations will begin to form. Bitcoin is on the move and, indeed, will be the price-action-developments to watch over the short-term.
The support rests at 44167.87 with resistance at 44501.17 which the price is below the Pivot Point at 44372.13 located between the lines. The EMA of 10 is showing a bullish bias in the ascendant channel, and it is below EMA of 100 and the EMA of 200. Both EMA of 100 and 200 are moving horizontally. The RSI is moving above the level of 50, the MACD histogram is in positive territory with the signals showing upward momentum and the Stochastic is moving in high ranges with a trend for oversold area. The ADX is not showing a clear signal.
The price is above the Ichimoku Cloud and the Chinkou Span far away the market price. The Tenkan-sen is showing an upward trend but the Kijun-sen is showing a downward momentum.

• There is resistance at 44501.17, followed by resistance at 44705.43 and 45038.73.
• There is support at 44167.87 Below, there is 44038.83 and 43705.53.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.