At the start of the week, we saw volumes increase as #Bitcoin made an attempt at $65,000. To sustain this upward momentum, it would be ideal to see daily closes above the $65k level. Since the previous peak was at $65k, closing above this level could signal a shift in the long-term trend, turning positive after months of downward pressure. #BinanceLaunchpoolHMSTR
Coinbase continues with spot purchases, and there are still no signs of selling pressure. Additionally, whale activity has risen to +4 and remains in positive territory, indicating that large buyers are still active in the market.
If the price pulls back to retest the $60k support, future upward moves could be healthier. Therefore, risk management should take into account the possibility of a pullback to $60k. As long as this support holds, the positive outlook will remain intact. However, for a faster upward move, breaking the $65k level will be crucial.
Throughout the week, I will continue to provide updates. If $BTC shows more stability, weâll also begin analyzing Ethereum and altcoins.
Wishing everyone a great week and profitable trades!
