Twitter Facebook LinkedIn Flipboard 0 The Bitcoin price has now been front-run at the $20k psychological support level three times, bouncing each time back over $21k. Ethereum has also not yet broken the $1,000 level. On the four hour chart, Bitcoin is currently printing a bullish engulfing candle – a sign buyers are defending that level. In the short term Bitcoin may move back to the 21 EMA at just over $22,000. Buy Bitcoin Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk. Bitcoin Triple Bottom Typically a triple bottom on a higher time frame (HTF) like a daily or weekly chart would be more valid for technical analysis. Market bottoms can take time to play out and with little price action at this level, alongside extreme fear, uncertainty and doubt (FUD) some traders will still be waiting on the sidelines. Only one weekly candle exists since Bitcoin broke down below $26,000. The current weekly candle opened June 13th at $26,574 on Binance and the next will open June 20th. Currently the Bitcoin price is down 20% this week, but up almost 4% on the 4h chart as a result of that bullish engulfing candle and low timeframe triple bottom. The 21 week EMA is at $35,700 and could be a price target if Bitcoin does put in a double bottom or triple bottom on a HTF chart. The 200 week SMA (simple moving average) is at $22,350 – that has acted as support for Bitcoin for years. Bitcoin has wicked below it before, as it did during the 2020 covid crash, but not closed weekly candles below it. If Bitcoin closes under it this weekend, it could be a short signal for some traders, and a sell sign for some long term holders. However if Bitcoin closes above it having been front-run near $20k three times, it would be a buy signal for many. After some of the most bearish price action Bitcoin has ever seen, this week’s candle close will be one of the most closely watched in the history of cryptocurrency. Related Bitcoin Price Prediction 2022 – 2030 How to Invest in Bitcoin Where to Buy Bitcoin Crypto Signals - Learn to Trade Our Rating Free Telegram Community & VIP Channel 3 - 5 Crypto Signals Daily VIP Access when Opening an Exchange Account Market News & Technical Analysis - cryptosignals.org Learn More Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk. Twitter Tweet Facebook Share Email This article was written for Business 2 Community by James Spillane.Learn how to publish your content on B2C Author: James Spillane James is a BSc Physics grad, attending Imperial College London and becoming interested in the gambling industry around the time of the online poker boom. His previously published work can be found on Rakeback.com and more recently InsideBitcoins.com and DeFicoins.io. Currently James is a content editor and writer covering Bitcoin … View full profile ›More by this author:BC.GAME Releases An NFT, The Degen PassWhy is Crypto Up Today? Best Coins to Buy for 100x GainsLawsuit Against Solana Claims It’s an Unregistered Security