Bitcoin price remains unfazed by the US CPI announcement on September 13 and continues to move in a range. The weekly chart, however, shows a potentia
Bitcoin Weekly Forecast: BTC could revisit $21,000 as sell signals multiply ahead of US CPIBitcoin price action holds the potential for history to repeat or at least rhyme. On the daily chart, BTC currently trades at $26,257 and is supported by the Momentum Reversal Indicator’s support level depicted in green dots at $25,188.
If these patterns were to repeat, a pullback would put Bitcoin price at $27,670. A continuation of the downtrend will encounter two key support levels - $25,186 followed by $20,431. previous publication The Relative Strength Index on the weekly time frame has also slipped below the mean level of 50. Until Bitcoin price pushes higher enough for RSI to recover above the mean level, the weekly timeframe for BTC remains bearish. and rallies, due to the MRI’s green “one” buy signal. In such a case, BTC could trigger a minor recovery rally until it retests the hurdle at $27,670.
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