If you have been following events as it relates to bitcoin price weekly analysis you will be familiar with the fact that bitcoin always reset it price on a weekly basis starting from Monday, and the direction the reset goes may greatly determine the price through out the week, take last week Monday 7th of march 2021 for instance bitcoin price was $48,980 and ended the week with positive price gain of +0.91% and through out last week we saw how the price rose to an all time high of $61179.79 before dropping down again to $60,197.9 starting the new week Monday 15th march 2021 with a negative pull back of 6%- and at the time of making this post 16th March 2021 bitcoin price is $55,710.60. This have shown to a great extent how negativily the market have been this week.
In conclusion
Bitcoin all the time have a new weekly price reset mechanism which control the direction the price will go either in a positive or negative directions.
What are your thoughts on this?
Well let see on the bigger picture... let see the price for Monday and the last 4 weeks
On Mon 8th Mar start: $50,323, end $51,334 => going up
Week 1 : Mon 8th Mar to Sun 14th Mar
=> TrueSo your theory is true here and price for whole week did go up.
On Mon 1st Mar start: $44,522 end $48,384 => going up
Week 2 : Mon 1st Mar to Sun 7th Mar
=> TrueAgain your theory is true here and price for whole week did go up.
On Mon 22nd Feb start: $58,126, end $53,535 => going down
Week 3 : Mon 22nd Feb to Sun 28th Feb
=> TrueYes, your theory is correct again and price for whole week did go down.
On Mon 15th Feb start: $48,709, end $48,703 => going down
Week 4 : Mon 15th Feb to Sun 21st Feb
=> FalseNo, this time your theory is wrong price for whole week actually went up
Well well well i would say 3/4 you are right that's about 75% correct... so some how agree with you
Edit:For Mon, 15th Feb the margin is so small, i would give it pass.