Weekly Report 02.06.2025

Market Summary

After reaching a local peak at approximately $111,814, Bitcoin experienced a correction of -8%, which aligns with typical retracements within a bullish trend. Following a break below the lower support line, the price rebounded precisely at the 23.6% Fibonacci level — indicating a significant buyer reaction at that point.

📉 Key Analytical Points

Correction from the Top:

After hitting the local high around $111,814, BTC saw an 8% pullback — a move consistent with healthy corrections within an ongoing uptrend.

Support Reaction:

The price broke below the lower trendline support but rebounded directly from the 23.6% Fibonacci retracement, confirming the importance of this level as short-term support.

MACD Indicator:

Post-correction, the MACD lines crossed upward (Golden Cross), a signal that typically precedes further bullish momentum.

📊 Technical Outlook

Support: $103,160 (local bottom after the 8% pullback)

Resistance: 23.6% Fib retracement (~bounce zone), with 38.2% as the next resistance level

MACD: The Golden Cross suggests a potential for a medium-term bullish reversal

Trend: Despite short-term volatility, the medium-term structure remains bullish

📌 Conclusion

Bitcoin is displaying a technically healthy correction with signs of recovery. The rebound at the 23.6% Fib level, coupled with the MACD Golden Cross, points to renewed upside potential. As long as the price holds above $103,160, the market remains in a constructive phase for continued growth.