⚡️ Bitcoin Weekly Chart Overview
Bitcoin closed last week with a 2.39% gain, marking its 7th consecutive green weekly candle and the highest weekly close in Bitcoin’s history. The last time Bitcoin had such a strong streak of green weekly candles was in October–November 2023, when it reached 8 in a row.
Support and Resistance Levels
Key support levels are now sitting at $100,000 and $93,000. On the upside, resistance is around $125,000, which aligns with a long-term upward trendline. If Bitcoin can push through this resistance, it could continue its rally.
MACD Bullish Signal
The weekly MACD indicator has given a bullish crossover, which has historically led to major price increases. The MACD histogram is expanding, showing increasing positive momentum in the market.
RSI Breakout
The Relative Strength Index (RSI) is currently around 68 and has broken above a long-term downtrend line. In previous bull markets, the RSI has gone as high as 85, suggesting there’s still room for growth. If $BTC Bitcoin can break above $109,000 this week, it may confirm further upside.
Profit-Taking Warning
Despite some selling pressure last week, bulls defended the $102,000 level and managed to break the previous all-time high. If this bullish momentum continues, we could see Bitcoin testing $125,000 soon. However, be cautious of potential short-term corrections as traders take profits.
🧠 Quick Summary
Trend: Bullish
Support Levels: $100,000 and $93,000
Resistance Level: $125,000
1-Year Target Range: $180,000 to $250,000
📌 Market Watch
One key factor to keep an eye on is the return of Trump tariff discussions, which could introduce short-term volatility into the crypto and broader financial markets.