WOW: Last time Bitcoin broke above the EMA ribbons it flushed -20% before pumping 500%!
If something similar happens again, $BTC could retest $72,000 first.
$BTC is now above its 50W SMA level.
A weekly close above this level will put buyers in full control.
Another weekly close below this zone means Bitcoin still has some downside left.
Bitcoin Weekly Analysis
bitcoin:native closed this week neutral, with neither bulls nor bears taking control.
Bullish Signals:
- MACD is turning bullish
- RSI is back above 50
- Stoch RSI is showing positive momentum
What happens next:
- BTC needs to break and hold the Weekly MA 50 near $81K to reverse the bear trend.
- Break above $81K could send BTC toward $90K to $100K next.
- A rejection could push toward $69K.
Key Levels:
- Resistance: $81,000
- Support: $75,000, $69,000
Important events this week:
- Tuesday: US ISM data
- Friday: US jobs data
A WHALE IS GOING GIGA-LONG ON BITCOIN.
He has opened a $107,000,000 $BTC long with 40x leverage.
Previously, this whale had a 100% win rate.
What does he know?
🇺🇸 Clarity Act odds have dropped to 33%, almost at a yearly low.
Next week is all there's left before August recess.
If Clarity Act doesn't move to Senate voting in the next 5 days, it'll probably not pass this year.