Bitcoin Retests Bull Market Support Band, Uptrend Intact
Bitcoin has retested its Bull Market Support Band, ranging between $109,600 and $111,900, as predicted by Capital.com's Head of Research, Monte Safieddine. This band is expected to play a crucial role in Bitcoin's 2025 uptrend.
Earlier this week, Bitcoin surged to a high of $112,458 before correcting to $112,036. This pullback did not break the support level, indicating strength in the stock market today. Looking at the weekly chart, Bitcoin has consistently held this support since March 2025, suggesting a robust uptrend.
However, Bitcoin is now facing key resistance. The Relative Strength Index (RSI) is showing signs of hidden bullish divergence, which could signal a potential reversal or consolidation phase.
Bitcoin's retest of the Bull Market Support Band and its weekly chart performance indicate a strong uptrend. However, the current resistance level and RSI signals suggest a potential pause or consolidation in the near term. Traders and investors should closely monitor these indicators for any changes in Bitcoin's trajectory.
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