Columnist Geoffrey’s Weekly Bit Chart View (2/25~3/3)

Last week, Bitcoin faced meaningful rise and increase after reference on trading part. Now it is at adjustment part on increase.

This week, as same time as adjustment, there is need to see movement of Bitcoin after 28th.

Above is a 4-hour chart of Bitcoin. Accompanying decrease divergence, there has been price adjustment with long-stick negative candle. At the bottom of last trend, there is a sign of rally. Though weight is put on adjustment, shape of chart of long time-chart looks good. Therefore, unlike last decrease, it seems more like an adjustment.

However, if movement after 28th does not support 2750~3680 dollars, you should open a possibility of decrease such as last.

Above is daily candle chart of Bitcoin. Restricted by movement average line of 120 days, decreased Bitcoin seems to be supported with a single-wooded band of clouds.

Looking good due to location of frontal double-sided clouds, there is necessity to adjust since scale of minor index increased. Also, it seems like the increase will continue only after February 8th, mentioned previously as meaningful rise, when the price of 3720 dollars is supported by the final value of Candle after 28th.

Therefore, there is need to look closely into trend after 28th.

Above is weekly candle chart of Bitcoin. It is sad to see that the upper tail is long, but it seems to maintain five-day double-decker due to last week rise.

In the big picture, around 3290 dollars, the lowest point of 200-day movement average line and previous double-deck, is all a scope of defection, but the risk is too high, it seems to be a good idea to stop trading at the aforementioned support price.

In case it shakes a lot and 3290 dollars do not break, it is reflected as a positive flow is essential toward double-deck, unless there is a special market conditional unfavorable functions, based on weekly candle, there should be a noticeable increase on Bitcoin after 3~4 weeks from this week.

Most changeable times of market inflection are: 18:30 on 25th, 21:00 on 25th, and 00:00 on 26th.

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