$BTC/USD(BTCUSD.HAS)
📉 Bitcoin Weekly Update: Momentum Fades - Big Macro Week Ahead
Bitcoin is showing clear signs of momentum exhaustion after its steep climb from $62K to over $82K. Here is the full breakdown.
🔷 Technical Snapshots
🟢 Daily Chart.
Price is pulling back toward the 20-period SMA and middle Bollinger Band at $78,477.
The 14-day RSI cooled to 62.38 from overbought territory above 80. Upside momentum is fading.
🟢 4-Hour Chart.
BTC broke below both its 20-period SMA at $77,232 and lower Bollinger Band at $76,545. It now trades near $76,716.
RSI at 40.86 signals active short-term selling pressure.
🟢 Key Levels. Immediate resistance sits at $77.9K to $78.5K. Losing $76K support opens a test of the daily lower band near $75.9K and then $72K.
🌍 What Is Coming This Week
ETF Flows Slowing. Net inflows have cooled from late August, reducing steady buying pressure.
Yield Headwinds. Elevated real US Treasury yields continue to weigh on non-yielding assets like crypto.
FOMC on Wednesday. Fed rate decision and Dot Plot will set the tone for global liquidity and the US Dollar.
US Retail Sales on Wednesday. Key data that will shift Fed rate expectations.
BoE and BoJ on Thursday and Friday. A hawkish surprise from the Bank of Japan could trigger carry-trade unwinding and extra volatility.
🎯 Bottom Line
Bitcoin is going through a healthy pullback to flush out leverage. Reclaiming $78.5K on strong volume is needed to restore the bullish trend. Expect consolidation between $74K and $76K.
Trade wisely with this big macro week.
Not financial advice. Please do your own DD☺️.
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