Bitcoin closes the week at $68,021, showing resistance in the $69,500 area, failing to break the sideways movement. During this week, the price reached a low of $59,519.52, remaining within a stable range and respecting the sideways channel observed from previous weeks. The formation of a “hanging man” pattern indicates possible signs of exhaustion in the bullish momentum, which requires follow-up in case of bearish confirmation.
As for technical indicators, the price is holding above the 30, 90 and 180 EMAs, supporting a medium-term support trend, while the RSI is at 57.78, indicating a neutral market with a possible bullish bias. The weekly volume was lower than last week at 159,069k, suggesting a decrease in buying pressure, although not enough to change the current structure yet.
At a fundamental level, interest in cryptocurrencies associated with political figures such as $TRUMP, $MAGA and $DUM has increased due to the proximity of the US presidential elections, generating speculation and attention on these assets.
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