$BTC

/Weekly Analysis of BTC

Bitcoin continues to respect the 50 EMA average on the weekly timeframe - a key dynamic support level that has remained intact throughout this bullish structure.

Every time BTC corrected, it found support near the 50 EMA average before rebounding strongly. The current structure reflects past price action, where the price bounced back from the average after a period of consolidation.

We also see a pattern of lower highs forming a potential descending resistance line. A breakout above this line could initiate a new recovery, potentially taking BTC to new highs.

As long as Bitcoin remains above the 50 EMA average, the medium to long-term outlook remains bullish. A confirmed breakout above the descending resistance could open the door for a strong continuation in the upward direction.

Do your own research, not investment advice

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