BITCOIN WEEKLY ANALYSIS
$BTC just closed the week at $81,150, above the 50-week MA at $78,800 and is now trading above $86,000.
And now we can finally say Bitcoin has started a new bull run.
Important levels:
Support: $78,800 50W MA, $70,500 200D MA Resistance: $95,000 - $98,000
Everyone expected BTC to dump after the CLARITY Act failed and the Fed raised rates.
But it didn’t, and there’s a reason for that.
Over the last few months, ISM moved above 54, core inflation hit a 5-year low, and the Russell 2000 hit a new ATH.
Historically, when these conditions line up, they have been followed by a new crypto bull run.
$BTC
#NEARRisesNearly80%InAWeek #MultiversXPlansHardForkRecovery #CircleLaunchesInstitutionalBTCBackedBorrowing #ECBStartsBlockchainEuroSettlement #SouthAfricaProposesCryptoExchangeControls
$BTC just closed the week at $81,150, above the 50-week MA at $78,800 and is now trading above $86,000.
And now we can finally say Bitcoin has started a new bull run.
Important levels:
Support: $78,800 50W MA, $70,500 200D MA Resistance: $95,000 - $98,000
Everyone expected BTC to dump after the CLARITY Act failed and the Fed raised rates.
But it didn’t, and there’s a reason for that.
Over the last few months, ISM moved above 54, core inflation hit a 5-year low, and the Russell 2000 hit a new ATH.
Historically, when these conditions line up, they have been followed by a new crypto bull run.
$BTC
#NEARRisesNearly80%InAWeek #MultiversXPlansHardForkRecovery #CircleLaunchesInstitutionalBTCBackedBorrowing #ECBStartsBlockchainEuroSettlement #SouthAfricaProposesCryptoExchangeControls
