🚀 Quick technical analysis of #Bitcoin (BTC/USDT) on the weekly frame! 📈
A quick look at the weekly Bitcoin chart reveals its ongoing massive strength! Here are the key points:
🔹 Rocket rise!
Bitcoin has continued its strong rise since the end of 2024, climbing from ~$58,946 to over $107,000 currently! The overall trend is very clear: bullish and strong.
🔹 Moving averages support the rise!
The price moves above all major moving averages (MA7, MA25, MA99), in a perfect bullish arrangement ➕
📌 This shows clear buying momentum and buyers' control over the trend.
🔹 Volume confirms confidence!
High trading volumes during upward periods indicate institutional and sustained interest, enhancing the credibility of the upward movement.
🔹 MACD is positive but...
The indicator is still in the positive area ✅
But there are early signs of a slowdown in momentum, so watch the intersections carefully.
🔹 Is RSI in the danger zone?
The Relative Strength Index at 72.90 = Overbought area ⚠️
📌 May indicate a potential correction or slowdown in the rise.
📍 Summary:
The trend is strongly bullish, and the indicators support continued positive movement.
But do not ignore the warning signals, especially with the RSI entering the overbought zone.
Keep an eye on the market, and prepare for any natural corrective movement.
🔁 Share your opinion: Do you see Bitcoin surpassing 110K soon? Or do you expect a correction before the launch? 👇
🔔 This analysis is not considered financial advice. Do your own research before making any investment decisions.
