Bitcoin (BTC) price action is showing strength and volatility after seven weeks of consolidation. The current weekly BTC candlestick has already registered a 9.30% gain and is likely to close on a positive note.
BTC overcame $42,289, which is the midpoint of the last cycle’s bear market crash of 77%.
Additionally, it has also flipped the $45,156 weekly resistance level into a support floor.
Hence, investors should keep some gunpowder dry, should Bitcoin price trigger a pullback. For now, the key levels for buying the dips include $45,156 and $43,823. A bounce coupled with a spike in buying pressure could send Bitcoin price to the next key weekly hurdle at $52,062.
BTC overcame $42,289, which is the midpoint of the last cycle’s bear market crash of 77%.
Additionally, it has also flipped the $45,156 weekly resistance level into a support floor.
Hence, investors should keep some gunpowder dry, should Bitcoin price trigger a pullback. For now, the key levels for buying the dips include $45,156 and $43,823. A bounce coupled with a spike in buying pressure could send Bitcoin price to the next key weekly hurdle at $52,062.