BTC/USD - Weekly OverviewOver the past week, Bitcoin has formed a rising channel pattern, indicating that positive momentum is building up. After consolidating between the price range of $18K-$22K, the price level had a positive breakout above the resistance level of $23K and sustained it as well.
The positive crossover of MA-10 against MA-20 is another bullish signal currently present. However, the price level sustainability above MA-10 looks vulnerable.
The RSI level also sustains well above 50, indicating that bulls are in a stronger position.
The MACD level is also hovering above the histogram while forming green bars. However, it looks vulnerable to a bearish crossover on a shorter timeframe.
Overall, the resistance levels can be placed at $25K and $27K, respectively, while if the market sentiment turns negative, support levels can be set at $22K and $20K.
