#BTC $BTC

Let’s take a look at Bitcoin on the weekly timeframe, without unnecessary noise. On the weekly chart, Bitcoin shows a bullish engulfing pattern from the support zone, which was confirmed by the weekly candle close yesterday. However, the confirmation is somewhat weak due to low volume, making it difficult to confidently talk about an upcoming rally. A breakout of the resistance (marked in red on the chart) is still needed.

Most likely (this is just an assumption), this week will trade within the range between support and resistance. We'll follow the actions of buyers and sellers and enter trades in the direction of capital flow (institutional, of course).