WEEKLY BITCOIN CHART ANALYSIS
✅ Continuing the uptrend: Bitcoin has created a green candle for the 7th consecutive week and closed last week with an increase of 2.39%. This is the highest weekly close in Bitcoin's history. The last time Bitcoin created 8 consecutive green candles was in October/November 2023.
✅ Support and resistance:
Support: $100,000 and $93,000
Resistance level: $125,000 at the upward trend line
✅ Bullish diagonal on MACD:
On the weekly MACD, we can see that the MACD crossover is performing well. Each previous MACD crossover on this timeframe has led to strong upward movements, and the histogram is currently expanding positively, indicating strong momentum.
✅ RSI breakout:
RSI (currently around ~68) has broken the long-term downtrend line and is currently trending higher. We see RSI rising to 85 in a bull market. Therefore, there is still plenty of room for an uptrend if BTC can surpass the $109,000 level this week.
⚠️ Profit-taking correction: Last week, we witnessed a nice battle between bulls and bears, but the bulls held the support level of $102,000 and broke the previous all-time high. This momentum could push Bitcoin's price up to $125,000.
🧠 Summary:
Trend: bullish
Support: ~$100,000, $93,000
Resistance: $125,000
One-year target: $180k - $250k
KEY MARKET FACTORS: Trump's tariffs have once again become a hot topic in the market, potentially creating short-term volatility.
$BTC to the mon
