Massive reversal in Bitcoin.

$BTC closes weekly candle above $82,000 for the FIRST TIME since January 26th.
Read this until the end to fully understand the situation.
Trading at $82,200 just above Rising wedge
- Weekly MACD just printed a bullish crossover
RSI has jumped to 52, entering bullish territory
- Trading above Weekly MA 20 first time in 2026
Support: $74,000 BTC
The next 4 days will be important as Senate Banking Committee votes on the Clarity Act on May 14.
US Markets just delivered their 6th consecutive weekly green candles and If we see stability in the US stock market this week, fresh capital could rotate into crypto.
However, any major drop in US stocks will likely hurt crypto as well.
Key points that can't be ignored:
- Russell 2000 took 5 years (instead of the usual 4) for a multiyear breakout and is now trading near all-time highs
- ISM has printed above 52 for four consecutive months near its 45-month high
(ISM above 56 has historically triggered parabolic moves in crypto)
- Core inflation is near its 60-month low
New Fed Chair could be selected in the next Few weeks
- M2 money supply is near all-time highs
The setup is getting very interesting.
Let's hope this is not a Sunday pump and Monday dump situation.
#Bitcoin #Bitcoin #Price #Macro #Insights