BTC/USD - Weekly Overview

The past week for Bitcoin turned out to be fundamentally negative as crypto-friendly and related banks collapsed. However, at the time of writing, the world’s largest cryptocurrency showed symptoms of recovery as the weekly loss stood at just around 1.00%, even after suffering a dip below the crucial mark of $20K.

On the Fibonacci retracement table, the 0.5 FIB level acted as a strong support zone for BTC while it currently faces resistance at the 0.786 FIB level.

Technical indicators including the RSI and MACD have shown significant build-up for a positive bounce back.

Overall, BTC is facing resistance at $23K and $25K, while the support levels can be placed at $20K and $18K.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.