Bitcoin price currently trades around $69K with a surge of 1.13% over the past week.
The Relative Strength Index (RSI) stands at 56 in the neutral zone.
Bitcoin has achieved its second-highest weekly close ever, with massive ETF inflows emerging as a major bullish catalyst amidst being stuck in a bearish trap. On June 7, the Bitcoin price surged to $71,833, its highest price since May 21. However, it failed to reach the $72,000 resistance level due to the U.S. employment report in May.
Meanwhile, over the past 48 hours, the Bitcoin supply held by the whales with 100,000 BTC has decreased by 0.2%. This implies that the investors are repositioning their holdings or cashing out.
Looking at the long run, the Bitcoin Wyckoff pattern indicates that Bitcoin could hit an all-time high of $85,000 but needs to move above $71K to confirm a breakout. Currently trading at $69,498 at the time of writing. And over the past week, it was up by 1.13%. The 24-hour trading volume was $14.48
We współpracy z: https://thenewscrypto.com/can-bitcoin-overcome-resistance-after-second-highest-weekly-close/
