March 16: Craig Cobb: Bitcoin’s 10% Weekly Bounce

Craig Cobb says Bitcoin finally printed a strong weekly candle, closing up more than 10 percent after several weeks of weakness, but he cautions that one bullish week does not change the broader trend. 

www.thegrowmeco.com

Price is currently sitting at a major historical resistance level that previously acted as resistance, then support, and now resistance again after the monthly uptrend broke. While Bitcoin could still push higher toward the low $80,000 range if momentum builds, Craig says he continues to follow the weekly trend, which still shows a lower high and lower low structure. 

From his perspective, this current move may simply be a pullback within a broader weekly downtrend rather than the start of a new bull run. He is watching closely to see whether Bitcoin breaks convincingly above resistance or rolls over again, with his bias leaning toward a pullback unless the market proves otherwise. 

Learn more from Craig at www.thegrowmeco.com

Happy Hodling

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