As you can see on the chart, there are some important support levels and trends. As long as these levels keep their strength, I am bulish.
Comment:
Bitcoin was supported at 55365, which coincides with the black trend line.
Comment:
Bitcoin is trying to stay above 59k, bypassing the previous ATH level. 58.9k, 58.3k levels can be considered as support levels for the short term. If the price can be consolidated here, the next Bitcoin price target will be 64250.
Comment:
A dump came before the weekly close. As I expected, there was a reaction from the 58900-57600 support zone. We will see later on whether this region has turned into strong resistance. It looks good to keep the price above 59k for now.
Comment:
Bitcoin continued to down, but the region 54900-53600 showed a nice reaction. After the FED statements, Bitcoin gained momentum again. It is currently within the horizontal trend line with the level of 57900. Consolidation of the price here may take us to a new ATH level.