Bitcoin / Tether
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Bitcoin: Weekly Support Holds

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Good afternoon my dear reader, it is such a pleasure to get a chance to write for you today, great news is all I have to share.

Bitcoin! Wow, Bitcoin!

Isn't this the best possible ever?

Technical analysis

Five weeks total. This is the most important data point available on the chart. We can make a whole analysis based on this number, the last five candles.

On the first candle, BTCUSDT weekly opens below MA200. The same week, we end up with the biggest candle in years. MA200 has been confirmed as long-term support.

The bullish jump went beyond the April 2025 low around $74,500, a major level that produced a rejection in April-May this year.

So Bitcoin managed to break this resistance while confirming the bear market bottom being a price range around the MA200 indicator. Now we have four weeks of sideways action above support. This support level is being confirmed this week.

This week, Bitcoin starts red. The bottom comes up at $74,973, right above the $74,500 from April 2025. Now BTCUSDT is full green and about to hit the highest price of 2026. With this milestone being reached, a new bullish cycle is confirmed.

What to expect

The action this week, Bitcoin retracing just to recover back above $80,000, is a major development. It means so much for Bitcoin and the Altcoins market, Cryptocurrency.

The bear market will now be over even for the bears. This is great, we can now all get on the bullish train.

Next comes the altcoins market and this is where all the entertainment, excitement and fun will happen. This is where thousands of millionaires will be made. The altcoins market is about to produce one of the strongest bullish cycle in its history, supported by Bitcoin rising long-term.

An early end to the bear market means hyper-bullish.

Thank you for reading.

Namaste.

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