In the weekly update, BTC’s weekly candle closed above the key zone between 60,400 and 62,100, which is a strong indicator of the strength of these support levels.
The daily chart provides a clearer market perspective. On the daily timeframe, BTC ended the week with a new higher low, signaling the continuation of its uptrend. This new higher low reflects strong upward momentum and reinforces the ongoing bullish trend.
The blue circles highlight these higher lows. For this week, we’re looking for BTC to close a daily candle above 64,300, with a final goal of breaking the higher high at 65,900.
Notice how the weekly candle closed above the 60,400 and 62,100 zones.
In case of a retracement, since the market never moves in a straight line, the 62,100 level will serve as an ideal retest zone, transforming into a strong support level.
It’s only a matter of time before BTC reaches the targets of 70,800 and 81,350. For now, let’s keep an eye on 70,800. Once BTC breaks through 65,900, the next target will be 70,800.
Keep in mind that this is purely based on technical analysis. Fundamentals also play a significant role, especially considering the ongoing tensions between Iran and Israel. Israel has been relatively quiet, and there’s uncertainty about whether they will retaliate or not, which could impact market movements.
On the other hand, USDT dominance is performing well. Although it didn’t reach our peak target of around 6.08%, its decline is a positive sign, indicating that money is flowing into the crypto market. At the moment, it’s holding within a key support zone at 5.51%. Ideally, I would like to see it form a low at the highlighted zone around 5.39%.
As forming that low would signal the top for USDT dominance, it should lead to a downtrend in USDT dominance and an uptrend for Bitcoin and the broader crypto market.
On the weekly chart, BNB is still in a consolidation phase, meaning it’s only a matter of time before a breakout occurs.
The daily chart provides clearer insight, where we can clearly see an uptrend with both higher highs and higher lows. If the current higher low holds, the next targets for BNB will be 585, 612, and ultimately 689.
The key levels to watch closely this week are the 585 and 612 price zones.
Weekly consolidation for BNB
Solana is still maintaining its position above the 124 and 128 zone, and it has formed a new higher low, signaling ongoing upward momentum.
The key level to watch for Solana is the 159 price zone, where it faces significant resistance.
If it successfully breaks through 159, the next key targets will be 167 and 189.
Ethereum has been forming higher lows on the daily chart, with a key resistance zone at 2725. Although it hasn’t experienced much upward momentum recently, I believe its time will come. This week, I’d like to see ETH reach 2570 and ideally close a daily candle above that level.
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