Bitcoin Technical Analysis: Momentum indicators remain bullish
BTC has suffered its largest weekly drop since President-elect Donald Trump’s election win at the beginning of November, as seen on the BTC/USDT weekly price chart.
The Relative Strength Index (RSI) reads 67, stable under the overbought mark at 70. The Moving Average Convergence Divergence (MACD), a key momentum indicator, flashes green histogram bars above the neutral line. This shows an underlying positive momentum in BTC price trend on the weekly timeframe.
If Bitcoin attempts a recovery, the $100,000 milestone acts as a first resistance. Next up, the all-time high at $108,353 emerges.
