Bitcoin faces do-or-die weekly, monthly close with macro bull trend at stake
Bitcoin monthly RSI provides a window of hope as BTC bulls battle multiple long-term resistance trend lines at once in February. Bitcoin (BTC) is leaving traders guessing as the future of the bull market depends on the last week of February. In multiple tweets on Feb. 17, popular trader and analyst Rekt Capital flagged crucial resistance battles ongoing on BTC/USD across multiple timeframes. Bitcoin price squares off with bear market downtrend Bitcoin hit new six-month highs this week as the latest innings of its 2023 recovery kept the bull-bear debate raging. After a consolidatory start to the month, February has turned out to be something of a reckoning point for Bitcoin price strength. Gains have been a lot harder to cement than in January, when BTC/USD finished up nearly 40%. For Rekt Capital, now is the time to pay attention — no matter whether trading daily, weekly or even monthly timeframes. The weekly chart perhaps represents the biggest struggle in the wake of the 2022 bear m...