$BTC Analysis: Relief Rally or Trend Reversal? 🚀
BTC has shown a strong recovery after testing the $60,000 psychological support. Here is what the charts are signaling for the upcoming week:
1. Daily Outlook (The Big Picture):
Key Resistance: BTC is currently battling the $72,300 zone (Daily EMA 7). A daily candle close above this level is crucial for a move toward $78k - $80k.
Volume & MACD: While the bounce is healthy, the MACD remains in the negative zone, suggesting caution is still needed.
2. Hourly Outlook (Short-Term Pulse):
Overbought Alert: The 1H RSI is currently at 81, indicating that the market is overbought in the short term.
Support Zone: Expect a minor pullback or consolidation around the $69,500 - $70,000 range before the next leg up.
Final Verdict: Bullish momentum is building, but chasing the pump at an 80+ RSI can be risky. Look for entries on successful retests of the $70k support.
#bitcoin #BTC #CryptoAnalysis #TradingSignal #Binance
