Bitcoin ($BTC)

Bitcoin (BTC)

Disclaimer: All the information and analysis serve only as educational purposes and hence should not be regarded as investment advice.

Here is my thought on the potential weekly price action of Bitcoin, BTC.

Overall, the market structure is still bullish with consistent formation of higher highs and higher lows since 2023 - currently forming a new higher low. A strong support area in the range of 65K-74K and a diagonal uptrend trendline are being tested. Historically, an RSI around 44 is a strong indicator of a market local bottom - current RSI is 44.89.

Since 2023, market performance in Q1 and Q4 have shown to be positive and the opposite is true for Q2 and Q4. However, the tariff imposed by the U.S. President Donald Trump towards Canada, Mexico, and China in February 2025 have sparked uncertainties in the market causing price correction and BTC ETF Spot net outflow in this quarter.

However, with the signing of the executive orders for the U.S. BTC Strategic Reserve by President Donald Trump implies increased adoption of Bitcoin by nations, not just institutions. Therefore, I firmly believe that as of the date of writing, BTC at 80K, is a good price to start scaling into the asset, with a bullish outlook for the rest of 2025 and my personal target is for BTC to reach a cycle top between 170K-210K by the end of the year.

Invalidation: If a weekly candle closes below the diagonal trendline and the invalidation level of 49.1K, then my above view on Bitcoin will get invalidated and turn into bearish.