BTC - Weekly Timeframe - As at 16.09.2024
2024-10-17

BTCUSDT - 1st update was on 05.07.2024

During that period the prices were testing the S zone.

Price has moved above the recent weekly close of 65602 on 23.09.2024.

If the present weekly candle closes above that close we will see a new Higher 
Close and a high for the last 7 weeks.

Volume spikes haven't happened yet. Hence a close watch on that is very important. 


If a higher close weekly candle is seen the MACD may close above the signal line. 
Which will add confidence to the Bulls. RSI above 50 points is positive as well.

Prices breaking above the R1 zone range between 68307 and 73837, a trend extension 
will be seen.

Trend extension to test all the way upto the R5 zone could take place if volumes increase.