Bitcoin Price Analysis: Key Levels Traders Should Watch This Week
$BTC is consolidating this week around $34,850 as traders monitor critical support and resistance levels for potential short-term moves. The market shows mixed signals, with bullish momentum facing resistance near $35,400 and strong support holding at $34,200.
📊 Current Market Snapshot $BTC Price: $34,850 Market Trend: Sideways with slight bullish bias Volume: Moderate, with occasional spikes indicating accumulation 🔑 Key Support & Resistance Levels Level Type Price Level Strong Support $34,200 Immediate Support $34,600 Immediate Resistance $35,400 Major Resistance $36,000 Analysis: BTC bounced multiple times from strong support $34,200, showing buying interest at this level. Immediate resistance at $35,400 remains a hurdle; a breakout above this could target $36,000. Consolidation between $34,600 – $35,400 may continue unless volume spikes drive momentum. 📈 Technical Indicators RSI (14): 55 → Neutral, slight bullish momentum MACD: Signal line crossover hints at a potential upward move Volume: Increasing during minor bullish candles, indicating accumulation 🐋 Whale & On-Chain Insights BTC accumulation observed at major exchanges Exchange outflows suggest long-term holding trend Watch whale activity for possible short-term volatility 🔮 Short-Term Outlook Bullish Scenario: If BTC holds above $34,600 and breaks $35,400, next target is $36,000–$36,200 Bearish Scenario: Failure to sustain $34,600 could test $34,200; breach may lead to $33,500–$33,700 📌 Key Takeaways $BTC is currently consolidating; key levels are $34,600 – $35,400 Whale and on-chain data indicate accumulation and cautious optimism Traders should monitor support/resistance closely for breakout or breakdown 📊 Reference Chart The chart below highlights key levels, RSI, MACD, and volume trends for BTC: #BİNANCE #BinanceBlockchainWeek #BTC
$ETH is trading near key support/resistance ranges around ~$3,000–$3,300, with volatility still present as traders watch breakout levels closely. TechStock²+1
Broader crypto weakness has impacted ETH alongside Bitcoin, adding bearish pressure in the short term. Barron's
📉 Technical Picture
Bearish / Consolidation Signals
$ETH remains in a corrective phase and has struggled to reclaim and hold above major resistance zones, indicating pressure and vulnerability to further downside if key supports fail. CryptoPotato
Market sentiment shows indecision, and failing to stay above ~$3,000–$3,100 could open deeper pullbacks. Pintu
Bullish / Breakout Potential
Some chart setups and analyst views point toward potential bullish breakouts if ETH can clear key resistance zones — especially above ~$3,300–$3,380 — which might kickstart a rally toward higher targets. Reddit
Longer-term institutional interest, upgrades (e.g., Fusaka and Layer-2 scaling), and tokenization trends could act as catalysts. Business Insider
$ETH price action remains mixed with short-term bearish pressure but structural potential for upside if key resistance zones are taken out. Market catalysts like institutional flows and protocol upgrades could influence momentum, but traders should watch critical support levels closely. #Ethereum✅ #CryptoAnalysis📈📉🐋📅🚀 #cryptotreding