🚨[b]BTC shows its first signs of weakness since this bull run s

🚨BTC shows its first signs of weakness since this bull run started.

However, it is still holding above our red RSI line, similar to the 2020 Bull run.

Time for our Weekly Analysis.

Facts First, Conclusions at the end.

FACTS:

• A couple of bearish signals confirmed, first a Bearish Super Signal and last week a Warning Signal.
  Price still holding above the red RSI line.
  Bull Trend support currently at 32-34K.
  Trend Strength indicator still signaling a strong upward trend.
  Oscillator also confirmed a warning signal.
  

Observation: During the 2020 Bull Run, there was no bearish super signal; however, there were multiple warning signals above the red RSI line on the way up.

CONCLUSION:

• Last week, I reduced my Bitcoin positions by 20% as part of my trading process. Will consider taking more profits if other bearish signals appear or if we get a clear close below the red line.
  I am not closing my positions entirely as the trend is still clearly bullish as long as the 32-34K support zone holds.
  

Also, we could easily get a similar scenario to 2020, where the price kept going up, riding the red line.

Not financial advice
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That's a wrap! If you enjoyed this Weekly Analysis:

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