BTC price action, he observed, was closely copying behavior from the middle of its previous bull market in 2021.“Part of Bitcoin continuing to repeat mid-2021 price tendencies relative to the Bull Market EMAs would be a dip into the $87000 (green EMA) level for a post-breakout retest, if at all needed,” he commented on a weekly chart showing two exponential moving averages (EMAs).“Depends on how BTC Weekly Closes relative to $93500.”BTC/USD 1-week chart.
Source: Cointelegraph/TradingViewBitcoin continued to brush off news events, leaving volatility to equities, while gold attempted to stabilize after slipping from record highs earlier in the week.“Fairly normal to have a slight correction here on Bitcoin as it's just had a massive breakout,” crypto trader, analyst and entrepreneur Michaël van de Poppe told X followers on the day.“Buyers likely going to step in and then we'll be continuing our path towards a new ATH.”BTC/USDT 12-hour chart with RSI data.
The pair broadly maintained six-week highs while global markets remained at a loss over the trajectory of the ongoing US trade war.“The market is now up over +1% on the day on no news at all,” trading resource The Kobeissi Letter summarized alongside a chart of the S&P 500 in part of its latest analysis on X.“As we have seen multiple times this year, it almost feels like someone is front-running something right now.
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Author / Journalist: Cointelegraph by William Suberg
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