Overview of BTCUSDT

#BTCUSDT

Based on weekly chart, we can see BTC still in sideway phase. It fails to form new higher high and just create a lower high. Even though we see positive news about BTC (Gucci to accept Bitcoin for in-store payment and also news from Goldman Sachs), but from the chart, MAYBE we can see smart money is accumulating at price around 35K-40K.

In order to push higher, BTC need to breakout price level at 48K-50K and trading above weekly MA30 with supporting volume.

In my personal opinion, BTC will continue it bearish side, this is supported by RSI indicator that already shown "Bearish divergence", RSI value also below 50 (no momentum to move higher) and price also fail to breakout higher.

Support levels
- 36K
- 32K

Resistance levels
- 48K
- 50K
- 57K
- 69K (ATH)