$BTC Weekly Bitcoin Chart Analysis 🚨

$BTC shows signs of a possible trend reversal after bouncing at the support level of $97K and recovering to $107K. The current structure resembles a recovery phase following the local high of $112K and the correction that took us below the 25-day moving average.

📈 Key Observations:

Support and Resistance:

Strong support was maintained at $97K and $104K. Resistance is back at $110K, followed by the test of the ATH at $112K. A clean break above $110K with volume could trigger a move towards $115K+.

Volume:

Volume has been consolidating—declining during the correction, which signals a healthy correction rather than a trend reversal. Watch for an increase in buying volume around $108K for confirmation.

Moving Averages:

BTC is now above the 7-day EMA and testing the 25-day MA. The 99-day MA (~$93K) remains well below, confirming a macro bullish trend.

MACD:

A bullish cross is forming again, indicating that momentum may be returning to the positive side. If this holds, it could foreshadow another impulsive move.

RSI (14):

The RSI has bounced from ~40 to 58, avoiding oversold territory. It is now approaching 60—if it breaks this level with conviction, expect a bullish continuation.

🔥 Bias:

Currently neutral to bullish. A daily close above $108.5K would likely confirm the continuation, while failing to hold $104K could take us back to the mid-$90Ks.

🎯 What to watch this week:

Daily close above $108.5K with increasing volume

MACD confirmation on the daily timeframe

RSI crossing 60 for breakout signal

Global macro news (CPI, Fed) and ETF flow dynamics