Bitcoin Weekly Chart Shows Strength Above Key Moving Averages

Bitcoin shows strong momentum, closing above key moving averages. The weekly performance indicates potential for continued bullish activity.

Key Highlights

Bitcoin closed the week at $105,700, surpassing the 25-week SMA of $95,009.55 and the 50-week SMA of $83,318.12.
The Relative Strength Index (RSI) is at 63.51, indicating robust buying momentum without being overbought.
The Moving Average Convergence Divergence (MACD) remains positive at 5835.33, reflecting steady buyer interest.
Current trading volume is 95,302, lower than the average of 179,421, suggesting reduced market participation.
Bitcoin approaches a critical resistance level at $111,980, with support around $49,000 if a pullback occurs.

Monitoring these technical indicators will be essential to gauge Bitcoin's next movements.