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TradeDog-Research
Apr 3, 2023 12:01 PM

BTC/USD - Weekly Overview 

Bitcoin / United States DollarCoinbase

Description

The world’s largest cryptocurrency is now eyeing to break above the crucial mark of 30K. In the past week, BTC did face profit booking momentum which forced the price level to drop to 26.5K.
However, the level bounce-backed and currently maintains sustainability above 0.236 FIB level, which is a positive sign
The expansion in the width of Bollinger bands suggests that BTC might be ready for another potential upside.
For breaking above the 30K mark, the RSI level must sustain above 50 but currently showcasing negative nature.
Overall, BTC bulls will face resistance at 30K and 32K. On the contrary, if the profit booking momentum again kicks in, support levels can be placed at 27K and 25K.
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