Here’s a technical analysis of the BTC/USDT weekly chart focusing on trend direction, key indicators, support/resistance, and buy/sell signals:
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1. Trend Overview
• BTC has recently bounced after a corrective phase from the peak of $109,588.
• Current candle is bullish, trying to reclaim the middle Bollinger Band (MB) at ~$92,073.
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2. Indicators Analysis
Bollinger Bands
• Upper Band: ~$107,240
• Middle Band (MA20): ~$92,073
• Lower Band: ~$76,907
• BTC is approaching the middle band, which may act as resistance.
MACD (Weekly)
• MACD Line is below the Signal Line, but histogram bars are shrinking, showing decreasing bearish momentum.
• Potential bullish crossover in coming weeks = early buy signal.
RSI (8, 13, 21)
• RSI(8): 56.54
• RSI(13): 55.30
• RSI(21): 56.36
• All RSIs are rising and in neutral zone (~55–57) = bullish reversal building.
• No overbought/oversold levels.
Volume
• Volume is slightly increasing in the last few weeks = confirms buyer interest.
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3. Support and Resistance Levels
Resistance:
• $92,000–$93,000 (middle Bollinger Band)
• $101,500–$109,500 (recent top zone)
Support:
• $86,000 (recent bounce area)
• $76,900 (lower Bollinger Band)
• $70,700 (historical level)
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4. Buy/Sell Signals
Buy Signal:
• Current weekly candle is green and showing bullish momentum.
• Enter on confirmed weekly close above $92,000 (middle Bollinger Band) = safer entry.
• Early entry possible now with tight stop-loss below $86,000 for aggressive buyers.
Sell Signal:
• Watch for rejection near $92,000–$93,000 and reversal candles.
• If price gets close to $101,500–$109,500, consider profit booking or short setup on reversal signal.
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Conclusion
• Short-term bias: Bullish reversal in progress.
• Swing traders: Accumulate with stop-loss below $86,000.
• Next big hurdle: Break and hold above $92,000–$93,000 to target $101,000+.
• Bearish invalidation: Breakdown below $86,000 targets $76,900 or lower.