BTC/USD - Weekly Overview
After facing bearish momentum for the past couple of months, BTC is finally able to sustain above the crucial mark of 30K. Although the magnitude of the upside has been negligible since the start of June, sustainability might definitely provide a breather for altcoins too.
BTC price level is trading above both MA-10 & MA-25 which can be a positive signal. Meanwhile, there’s a positive breakout for MA-10 against MA-25. A bullish crossover above the major resistance level of 32K might bring back the much-needed positive momentum. The MACD is also supporting the hypothesis currently as the level is in the potential to bounce back above the histogram.
Overall, a resistance level of 32K will be a significant role for this week followed by 34K. On the opposite side, support levels can be placed at 30K and 28K.
BTC price level is trading above both MA-10 & MA-25 which can be a positive signal. Meanwhile, there’s a positive breakout for MA-10 against MA-25. A bullish crossover above the major resistance level of 32K might bring back the much-needed positive momentum. The MACD is also supporting the hypothesis currently as the level is in the potential to bounce back above the histogram.
Overall, a resistance level of 32K will be a significant role for this week followed by 34K. On the opposite side, support levels can be placed at 30K and 28K.
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