#bitcoin has quite positive signals for the Long side.

The weekly candle closed with a strong bullish candle. After the drop hit the 0.382 Fib support level, Bitcoin rebounded. The Ichimoku cloud on the weekly timeframe is still in a growth trend.

On the daily candle, the positive signals are also quite clear. The 6 and 12 RSI are both above 50. The current price is above the 7-day and 25-day moving averages, which could be excellent support for the price to continue rising.

The only thing to be cautious about is that the Ichimoku cloud on the daily timeframe is still quite poor with a downward trend. Bitcoin has also hit this cloud and has not been able to break through, which could be a significant resistance. Therefore, the Long side should also be cautious and set tight stop-losses.