Weekly Bitcoin chart
Bitcoin rose 10% last week and is positive again.
✅ Confirmed breakout:
Bitcoin has decisively broken out of the descending wedge pattern that has been in place from late 2024 to early 2025. Historically, descending wedges are bullish reversal patterns, and this one has worked perfectly with a strong upward rally.
✅ Horizontal resistance changed:
The previous resistance zone in the range of $88,000–$92,000 has been cleared. Bitcoin is now targeting its next key level at $109,356, and beyond that, it is in price discovery mode.
✅ Bullish MACD crossover:
A bullish crossover is expected on the weekly MACD (highlighted with orange circles).
Each previous MACD crossover in this timeframe has led to significant upward movements, and the histogram is now expanding positively, indicating strong momentum.
✅ RSI breakout:
RSI (currently ~58) has broken the long-term downtrend line and is now moving upwards.
This breakout shows increasing strength and buying pressure, with no immediate signs of bearish divergence.
Summary:
Trend: Strong bullish
Support: ~$88,000 - $90,000
Resistance: $109,356
Momentum: Increasing (bullish MACD + RSI)
#SaylorBTCPurchase #BinanceAlphaPoints #BinanceAlphaAlert #BTCvsMarkets
$BTC
BTC
94,197.24
-0.08%