BTC/USD - Weekly Overview
The world’s largest cryptocurrency is been trading between the crucial price zone of 28K to 32K for the past week. It can be considered that BTC is forming a consolidation range on lower levels at regular intervals amid bear market sentiment. The previous consolidation range formulated from 38K to 
42K which lasted for almost a month.
On the Fibonacci retracement table, the price is trading at the lowest level which indicates that we might face any of the dual possibilities with a sudden momentum. A positive breakout above EMA-20 and EMA-50 is also witnessed which can be a positive signal.
The RSI level has started to showcase negative nature retracing back from 60 and currently residing at 57.10. The MACD level is also struggling for a positive breakout above the histogram.
Overall, the support levels can be placed at 28K and 26K respectively. Incase of a comeback of bulls, resistance can be placed at 32K and 34K.
42K which lasted for almost a month. On the Fibonacci retracement table, the price is trading at the lowest level which indicates that we might face any of the dual possibilities with a sudden momentum. A positive breakout above EMA-20 and EMA-50 is also witnessed which can be a positive signal.
The RSI level has started to showcase negative nature retracing back from 60 and currently residing at 57.10. The MACD level is also struggling for a positive breakout above the histogram.
Overall, the support levels can be placed at 28K and 26K respectively. Incase of a comeback of bulls, resistance can be placed at 32K and 34K.
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