Long

Bitcoin's Weekly Chart: FVG Filled, Eyes Set on Further Growth

Updated

By analyzing the #Bitcoin chart on the weekly timeframe, we observe that after 2 months, this cryptocurrency finally experienced a drop to fill its old FVG. Interestingly, after this FVG was filled, the price managed to rise by 10%, from $53,500 to $58,300! Currently, Bitcoin is trading around $57,200, and if it can hold above the support level of $50,500 to $53,500, we can expect further growth in the price. Other assumptions from the previous analysis remain valid.

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Note

By Analyzing the #Bitcoin chart on the weekly time frame, we observe that the price has maintained its support level and is currently trading around $58,000. Yesterday, Bitcoin managed to rise to $59,500. Let's see if the price can successfully push above $60,000 again this week or not. Holding above $60,000 is crucial as it can serve as a significant resistance level for Bitcoin. This analysis will be updated soon!

Note

Bitcoin surged over 12% to nearly $63,000 as former President Trump confirmed his attendance at Bitcoin 2024. Despite a failed assassination attempt, Trump remains a strong Bitcoin supporter, advocating for crypto-friendly regulations.

Analyzing the Bitcoin chart on the weekly timeframe, we see that the price, as expected, rebounded from our demand zone and has risen to $63,000. This analysis remains valid, and I expect the price to break above $70,000 in the short term.

Trump’s pro-crypto stance is attracting younger voters and impacting digital asset markets. His upcoming speech at the Bitcoin conference on July 27 may further influence prices.

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