On this weekly chart, we can see an aggressive bullish candle forming—the likes of which we haven’t seen in quite some time. The primary question now: are we witnessing a true macro reversal from the bearish trend that began in late 2025, or is this merely a relief rally ahead of further downside continuation?
The biggest clue will be how this candle closes at the end of the week. A strong, full-bodied close would carry significantly more weight than a move that gets sold down into a long upper wick. My mantra that wicks are fickle, but bodies are final has never been more relevant. While the weekly close won’t answer every question, it will give us our first concrete signal of institutional intent.
UPDATE – 8/24/2026
We can see that the week closed stronger than any single week in recent history with a 24% rise. The last time Bitcoin rallied anywhere close to this degree was the three week period from November of 2024. This has sent a strong message to the market for those who are listening. I’m not expecting a single trajectory to new all time highs, but I’m paying close attention to what the market is saying right now.
For a deeper look into why candle body expansion carries significantly more weight than wicks, explore the CAB Framework