Bitcoin trades in the $77.6K - $77.8K zone, consolidating its price after briefly losing the momentum that carried it close to the psychological level of $80K. The market remains on the lookout for macroeconomic factors and the Federal Reserve’s next rate moves.
Here are the key points from this week:
Key Support: BTC is strongly defending the $72.7K to $77K range. Staying above this level is crucial to preserve the current bullish structure.
Resistance to Break: The main immediate barrier sits near $80K. A clean breakout would open the door to new all-time highs projected at $84K and $92K.
Less Leverage: Bitcoin’s open interest has been falling over the past few days. This suggests a healthy deleveraging in the market, reducing the risk of massive liquidations cascading.
Institutional Flow: The main support remains backed by institutional buying, with spot Bitcoin ETFs capturing the vast majority of capital flows into crypto funds.
What’s next? The market is building energy. As long as the $72.7K support holds intact, the bias continues to point upward in the medium term. Use caution with volatility in resistance zones!
#bitcoin #BTC #CryptoTrading. #BinanceSquare
Here are the key points from this week:
Key Support: BTC is strongly defending the $72.7K to $77K range. Staying above this level is crucial to preserve the current bullish structure.
Resistance to Break: The main immediate barrier sits near $80K. A clean breakout would open the door to new all-time highs projected at $84K and $92K.
Less Leverage: Bitcoin’s open interest has been falling over the past few days. This suggests a healthy deleveraging in the market, reducing the risk of massive liquidations cascading.
Institutional Flow: The main support remains backed by institutional buying, with spot Bitcoin ETFs capturing the vast majority of capital flows into crypto funds.
What’s next? The market is building energy. As long as the $72.7K support holds intact, the bias continues to point upward in the medium term. Use caution with volatility in resistance zones!
#bitcoin #BTC #CryptoTrading. #BinanceSquare