Bitcoin: Reclaims 200-Week MA With Bullish Divergence

Bitcoin is positioned to reclaim the 200-week moving average while fully erasing the prior week’s losses, according to trader @CryptoMichNL.

Strong bullish divergence across the 1D, 3D and 1W charts signals substantial upside potential ahead. At the current price of $63370.45, price sits inside the Bollinger Bands with upper resistance at $63821.57 and lower support at $59836.39. With price testing upper Bollinger resistance while RSI(14) at 71.07 flashes overbought and MACD confirms a golden cross at 782.43, a healthy retracement to the 50-EMA support at $61322.38 appears probable before continuation toward the 200-EMA at $64578.79. BTC price prediction models now incorporate this macro-technical confluence for the coming sessions.