$BTC/USD(BTCUSD.HAS)
🏆[Weekly] Higher Timeframe Bitcoin Technical & Market Overview
Bitcoin is trading around $62,999, consolidating near the lower end of its key volume range.
🔷Techinical Snapshots :
This week I am using “Volume profile” to analyse the bigger picture of bitcoin, daily chart.😅
Referring to the chart attached->
• The main volume “Point of Control” sits at $66,987, with a major historical volume cluster up at $91,318.
• Buyers will need to push price back above $67,000 to restore a bullish macro structure and unlock further upside.
Support Levels:
• Immediate support stands at $59,105, backed by the cycle low around $57,735.
• If that level breaks, the next significant support isn’t seen until $43,207.
🔷 Fundamental Snapshots
• Spot Bitcoin ETFs drew over $850 million in weekly inflows, though daily momentum remains choppy due to occasional single‑day outflows (~$145M).
• Market sentiment is closely tied to U.S. equities and upcoming macro data.
Delays in key crypto legislation like the U.S. Clarity Act (now pushed to mid‑September) have also weighed slightly on risk appetite.
🔷 Macro Outlook:
Bitcoin is currently squeezed between $59,105 support and $66,987 resistance. Holding above $59,000 keeps the long‑term bias positive.
A close below that could trigger a deeper pullback toward $57,735 and beyond.
Not financial advice. Do your own DD and research. Always do your own risk management.😁
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