$BTC
š Bitcoin (BTC/USDT) Weekly Technical Analysis
š Bitcoin continues its run above $74,000, with a bullish performance showing strength. Here are some key points:
ā¢ Strong Uptrend: The 7- and 25-period moving averages are supporting the upside move, with the price well above these lines.
ā¢ Overbought Signals: The RSI and Stochastic RSI are indicating overbought conditions, suggesting that the market may enter a consolidation or correction phase.
ā¢ Positive MACD: The MACD confirms the strength of the uptrend, maintaining a buy signal.
ā¢ Supportive Volume: The OBV remains positive, supporting the continuation of the current trend.
ā ļø Note: A possible pullback towards key supports could offer buying opportunities for those looking to enter the market.
