BTC/USDT ~ Weekly Overview

Last week, Bitcoin's volatility surged to 0.49, making it a rollercoaster ride. Starting at 38K resistance, it dipped to 35K, rallied back, but faced a second downturn at the same mark.


Currently in a rising channel pattern, Bitcoin aims for a 3rd test of resistance, though bulls show weakness at the 0.786 FIB level. RSI remains positive, hinting at a potential breakout to the overbought region, possibly propelling BTC past 38K.


Resistance levels stand at 38K and 40K. On the downside, support levels are at 36K and 34K.