#Bitcoin Weekly Update
Bitcoin closed the weekly candle above the support level, suggesting a potential bounce soon.
Currently, Bitcoin is trading above its 200-day moving average (MA) and an important horizontal support level. But it is below the Ichimoku cloud. For the bulls to feel more confident, Bitcoin needs to break above the Ichimoku cloud. However, if Bitcoin breaks below the 200MA and lowers support for an extended period, it could confirm a bearish trend.
Stay tuned I will keep updating.
