Bitcoin flipped bullish on weekly chart

Last week was much productive for bitcoin: price rallied to 9200$ and then dropped to 8400$ followed by a huge sell-off.

Despite sell-off on the last few hours of the week, bitcoin managed to close the week above the PREVIOUS week high at 8600$.

8300-8600$ should act as weekly support for now for bitcoin for bullish continuation.

Bitcoin also closed the week above 21MA - the first time since March'19.

Looking at MACD, we can bitcoin is just about to have a bullish crossover on the weekly chart, which indicates a multiweek bullish continuation.

Bitcoin may slow down a bit a consolidate in 7700-8500$ for next 1-2 weeks because of Chinese new year holidays, but overall things are looking pretty bullish for bitcoin - and the price could rise above 13000$ before halving.