BTC/USDT ~ Weekly Overview
Bitcoin's recent performance has been nothing short of spectacular, marking its most bullish week of the year with a 12% surge. This rally shattered the previous consolidation zone, propelling prices beyond the 
42K-43.5K range. The cryptocurrency didn't stop there; it soared past critical thresholds on the Fibonacci retracement chart, signalling the strength of this bullish trend. This momentum is underpinned by a significant increase in the cumulative volume of Bitcoin spot ETFs, now exceeding $35 billion, highlighting growing investor confidence.
Looking ahead, Bitcoin is poised to challenge the
49K mark, driven by current market optimism. Yet, the RSI indicator, at 54.90, hints at a potential price correction with its falling channel pattern, suggesting investors should tread carefully. To preserve its recent gains, Bitcoin must sustain above the $48,000 level, supported by the EMA-20, while the EMA-50 at $47,500 serves as a pivotal support zone.
In the bullish scenario, targets are set at49K and 51K. Conversely, should the bears regain control, support levels are thoughtfully placed at 47K and 45K, ready to cushion any downward movements.
42K-43.5K range. The cryptocurrency didn't stop there; it soared past critical thresholds on the Fibonacci retracement chart, signalling the strength of this bullish trend. This momentum is underpinned by a significant increase in the cumulative volume of Bitcoin spot ETFs, now exceeding $35 billion, highlighting growing investor confidence.Looking ahead, Bitcoin is poised to challenge the
49K mark, driven by current market optimism. Yet, the RSI indicator, at 54.90, hints at a potential price correction with its falling channel pattern, suggesting investors should tread carefully. To preserve its recent gains, Bitcoin must sustain above the $48,000 level, supported by the EMA-20, while the EMA-50 at $47,500 serves as a pivotal support zone.In the bullish scenario, targets are set at
49K and 51K. Conversely, should the bears regain control, support levels are thoughtfully placed at 47K and 45K, ready to cushion any downward movements. 
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.