Weekly Candlestick Analysis for Bitcoin and the Latest Price Trends
1. What is a weekly candlestick and why is it important?
A weekly candlestick represents Bitcoin’s price movement from Monday to Sunday on a candlestick chart. Each weekly candle includes:
Open price at the start of the week
Close price at the end of the week
High and Low prices during the week
Why analyze the weekly candlestick chart?
Weekly candles provide a clearer long-term trend than daily or 4-hour charts.
Help identify potential buying/selling zones and avoid short-term noise.
Commonly used by long-term investors and institutions to validate trends.
2. Common weekly candlestick patterns and their meanings
| Pattern | Description | Meaning | Suggested Action |
|---|---|---|---|
| Long Green Candle | Strong price increase during week | Clear bullish signal | Continue buying with trend |
| Long Red Candle | Deep weekly price drop | Strong bearish signal | Avoid buying, wait for recovery |
| Doji (small body, long wicks) | Close ≈ Open | Market indecision | Observe the next week |
| Hammer | Long lower wick, small body | Reversal to upside possible | Test-buy if confirmed next week |
| Hanging Man | Long lower wick after uptrend | Bearish reversal signal | Consider taking profits |
3. How to identify Bitcoin’s trend using weekly candles
To identify trends from weekly candlesticks:
Observe 3–5 consecutive weekly candles to spot major trends
Use additional indicators like RSI, MACD, or Moving Averages (SMA)
Check major support/resistance zones on the weekly chart
Example:
Week of May 13–19: Strong bullish green candle → Confirming uptrend
Week of May 20–26: Doji candle → Indecision, wait for confirmation
See also:
How to Buy Bitcoin Based on Weekly Candlesticks: Timing – Tips – Strategy Adjustments
1. When to trade based on weekly candles
Weekly candles close early Monday morning (Vietnam time). This is the ideal time to evaluate the trend over the past 7 days and plan your entry.
Recommendations:
Monday–Tuesday: Review the latest weekly candle. If it’s a strong green or bullish reversal → start entering positions
Wednesday–Friday: Only continue buying if the price confirms last week's trend. If weak or reversing → hold off
Sunday: Avoid buying due to potential volatility and low liquidity
2. Adjusting buying volume based on weekly candle behavior
Strong bullish weekly candle with high volume: Buy 30–40% of your planned amount
Small body or long upper wick: Buy less (10–20%) due to possible selling pressure
Near strong support (e.g., $95K–$110K) with green bounce: Increase DCA (40–50%)
After previous uptrend and current pullback early in the week: Opportunity to buy at a discount
3. Key notes for weekly candlestick-based buying
Don’t FOMO on weekends: Weekend pumps often lack confirmation, may reverse on Monday
Wait for candle close: Avoid major decisions based on just 1–2 daily candles
Use RSI or MA to confirm: If RSI > 70 despite green candle → market may be overheated
Add more when: Two strong weekly gains occur, or confirming patterns appear (e.g., 2 green candles + volume)
4. Suggested actions based on weekly candle behavior
| Last Week | Early This Week | Suggested Action |
| Strong uptrend | Mild pullback | Buy 20–30% more |
| Mild uptrend | Continues uptrend | Buy 30–40% on confirmation |
| Strong drop | Strong green recovery | Test-buy 10–20% |
| Sideways | Unclear direction | Wait another week |
Note: This is not financial advice. Always do your own research and act based on your personal investment strategy.
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