Week 5.9 Saturday, the trend is no longer in doubt! BTC weekly chart confirms W bottom, next week will start a main upward wave breaking new highs

Market Review

This week, BTC weekly chart formed the fifth candlestick after breaking through the W bottom neckline, completing a pullback confirmation with a doji star after the breakout. The price stabilized around 79,400 in the middle of the daily ascending channel, and the weekly close stayed above 80,000. The overall bullish structure remains intact, representing a normal mid-cycle correction during an upward trend.

Technical Analysis

On the weekly chart, the W bottom pattern is complete, with four consecutive bullish days confirming a trend reversal. The doji star after the neckline breakout signals bullish consolidation. MACD red bars continue to expand, RSI has not reached overbought levels, and volume is moderate. Supported by technical patterns, next week’s continuation of the upward push and challenge of previous highs is expected.

On the daily chart, the price has been operating within the standard ascending channel, with support at the lower boundary multiple times confirmed. Currently, the price is above the channel’s middle line, with short-term resistance at the 84,000 area, a previous dense trading zone. Once broken, the upward space opens toward 95,000. The moving averages are in a bullish alignment, with the 5-day and 10-day moving averages remaining golden cross. Each pullback to the moving averages and channel support is a safe opportunity for low buying.

Macro News

The Fed’s rate cut expectations remain high in June, the US dollar index is weakening, and the decline in real interest rates continues to benefit risk assets; BTC spot ETF funds continue to flow in, with institutional long-term allocation intentions stable, and market liquidity ample.

The global regulatory environment is marginally improving, with institutions shifting from short-term speculation to long-term expectations, creating a resonance between macro and technical factors, providing strong support for this upward movement.

Bitcoin’s trend next week: follow the trend for long positions

Long position strategy: buy in stages on dips around 79,000-79,500 support zone
Defense: 77,500, hold the recent key low point
First target: 84,000, break above to add positions
Second target: 95,000, look for trend extension

Operate with strict position control, avoid blindly chasing highs, rely on key support and resistance for swing trading, and follow the market rhythm accordingly.

If you don’t understand the rhythm or can’t grasp entry points, don’t guess blindly or hold positions recklessly. I will share the full market outlook, real-time high and low points, and precise entry/exit signals within the circle next week. If you want to catch this bullish wave and trade steadily, just follow the rhythm—helping you avoid shakeouts, hit the right nodes, and ride the entire upward trend. $BTC