strong buy
Bitcoin Weekly Outlook: Bullish Still Precise, but Momentum Weakening
The weekly analysis of Bitcoin indicates that while the asset maintains its bullish structure, the momentum is waning and trading volume is decreasing. The price continues to defend its recent lows, yet seller pressure emerges near a significant supply zone. Following the last break of structure (BOS), Bitcoin consolidated around the volume point of control (POC) of the previous range and managed to break upward, hitting a new high. However, the reaction at the supply zone suggests active sellers are present, with a clear rejection from around $109,500. Technical indicators present mixed signals: the trend remains bullish but with diminishing strength, RSI and Stoch RSI are neutral, and MACD remains positive. The declining volume could signal a potential exhaustion of the current upward momentum.
Source available for registered users Sign Up Free
AI Analysis
The weekly outlook for Bitcoin reveals a resilient bullish structure, yet the signs of waning momentum are evident. The decrease in trading volume coupled with a rejection at the key supply zone sugge...
AI Recommendation
Given the current technical picture, traders should approach with caution. It may be advisable to wait for clearer confirmation of a sustained move either upward or downward before committing signific...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
You might also be interested in:
partial sell
don't buy
sell on strength
n/a