BTC Looking Bullish One More Time

7 sept 2020

BTC is looking bullish one more time in the BTCUSD weekly chart. It is now retesting the purple ascending channel which has been respected by the BTC price action for years so far. Also, the RSI is again in bullish territory as in 2016 and 2017 (above the yellow line in the RSI chart). I have shown this channel in purple in previous ideas and I am happy to see how BTC is respecting this channel showing a bullish trajectory so far. It is also retesting the 21 weekly exponential moving average as it happened from 2016 till the end of 2017. If the price action of BTC continues above the 21 weekly exponential moving average as well as been within the purple channel shown in the chart, this would confirm that we are already in the BTC bull season as predicted in previous ideas.