Bitcoin Weekly Market Analysis – Bearish or Bullish?
$BTC
Last week, Bitcoin ($BTC ) experienced mixed momentum, hovering between $68,000 and $71,000. While it tested previous resistance levels, it failed to break convincingly above $71,500, suggesting indecision among investors. Despite positive macroeconomic news and ETF inflows, the lack of sustained volume on upward moves shows that bulls may be losing strength.
Technically, the Relative Strength Index (RSI) is cooling off from overbought territory, and the price is forming a potential bearish divergence on the daily chart. Support remains around $67,000–$68,000, while key resistance sits near $72,000. A decisive close above $72,500 would reignite bullish momentum; however, a break below $66,500 could trigger a bearish correction.
Recommendation:
Buy Entry: Around $67,000–$68,000 (support zone), with a tight stop-loss near $66,000.
Sell Entry: If $BTC fails to hold $66,500, short entries can be considered, targeting $63,000.
Timing: Watch for confirmation during the U.S. market open this week (typically around 13:30–14:30 UTC), when volatility increases.
Always manage risk, and avoid FOMO – Bitcoin remains volatile.