Bitcoin started the week with strong buying interest and broke through the key psychological resistance level of $67,000, maintaining strong bullish momentum and a sharp recovery from the $62,000 level. BTC reached a high of around $79,500, supported by strong institutional/ETF inflows and improving macro sentiment. After five consecutive gaining sessions, BTC is now showing signs of resistance and profit booking near the 80,000–82,000 zone.
Last week, BTC witnessed approximately $2 billion in net ETF inflows and around $2.7 billion in short liquidations above the $70,000 level, which contributed to the strong rally in Bitcoin and encouraged other crypto assets to follow the broader upward momentum. BTC is currently trading around $77,350 and has started showing some red candles after rallying more than 26% over the past week, indicating some profit booking and short-term consolidation at higher levels.
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On the Daily Chart, BTC price is trading above its Simple Moving Average (14 & 21 periods) levels of $68,222 & $67,089, indicating support for the price.
On the daily chart, the RSI is at 78.99, indicating strong bullish momentum but also placing it firmly in the overbought zone. It will be important to watch whether the RSI can sustain above the 70 level, which would indicate continued momentum, while a decline below 70 could signal weakening buying pressure. The Stochastic Oscillator is at 86.33, also indicating overbought conditions and suggesting the possibility of short-term profit booking or consolidation before the next directional move. However, overbought readings can persist during strong uptrends and should therefore be assessed alongside price action.
Overall, market sentiment remains bullish for BTC as long as it holds above the $74K support level. A sustained move above the 80K–82K resistance zone could further strengthen the bullish outlook, while a break below $74K may increase the risk of a deeper correction.
Key Levels
| Support 2 | Support 1 | Asset (Price) | Resistance 1 | Resistance 2 |
| $74,800 | $72,240 | BTC ($77,350) | $81,200 | $84,480 |
Above $84,480, there’s a possibility of hitting the $88,665 level.
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