TREND = BULLISH , TARGET = $109K
✅ Holding Breakout:
$BTC is holding falling wedge breakout and closed weekly candle with small jump of 0.58%. Historically, falling wedges are bullish reversal patterns, and this one played out perfectly with a strong upward rally.
✅ Support and Resistance:
The previous resistance zone around $88,000–$92,000 has been cleared. BTC is now targeting its next key level at $109,356, and beyond that, it’s in price discovery mode. $88,000 now became a support level.
✅ MACD Bullish Cross:
On the weekly MACD, a bullish crossover going to happen (highlighted with orange circles).
Each previous MACD crossover on this timeframe led to massive upside movements, and the histogram is now expanding positively, suggesting strong momentum.
✅RSI Breakout:
The RSI (currently ~58) has broken a long-term downtrend line and is now pushing higher. This breakout shows increasing strength and buying pressure, with no immediate signs of bearish divergence yet.
Summary:
TREND: Strong and bullish
Support: ~$88,000- $90,000
Resistance: $109,356 → then open sky (likely targets: $120,000, $130,000)
Momentum: Increasing (MACD + RSI bullish)
Major Event: FOMC meeting: May 7.
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