🚨Weekly Bitcoin Analysis
$BTC a recorded its lowest weekly close in 7 weeks at $62,900.
Bearish factors:
- BTC is still trading below the 20, 50, and 200 weekly MAs
- A typical annual bearish cycle ending around October
Bullish signals:
- MACD showing a bullish crossover
- Stoch RSI remains bullish
- ISM near its 4-year high and Russell 2000 at historical highs
Key levels:
- Resistance: 67K - 69K
- Support: 62K / 58K
Look at the bigger picture: $BTC est stuck in a descending triangle between 62K and 67K, despite the breakdown below the 200-week MA. This pattern typically ends with a real move, not just more fluctuation.
A clear breakout from this range will determine the next major move
$TUT
$BTC a recorded its lowest weekly close in 7 weeks at $62,900.
Bearish factors:
- BTC is still trading below the 20, 50, and 200 weekly MAs
- A typical annual bearish cycle ending around October
Bullish signals:
- MACD showing a bullish crossover
- Stoch RSI remains bullish
- ISM near its 4-year high and Russell 2000 at historical highs
Key levels:
- Resistance: 67K - 69K
- Support: 62K / 58K
Look at the bigger picture: $BTC est stuck in a descending triangle between 62K and 67K, despite the breakdown below the 200-week MA. This pattern typically ends with a real move, not just more fluctuation.
A clear breakout from this range will determine the next major move
$TUT