s we wrap up the week, here's a brief overview of the key technical developments in the crypto market.
7 Days Heatmap
After rejecting the $60,000 support level, BTC witnessed a bullish week, closing with a +4.29% surge.
This bullish movement in BTC pushed several altcoins up with it. However, ETH and many altcoins ended the week bearish.
![7 days heatmap showing a mixture of bearish and bullish sentiment with BTC up by +4.29% and ETH down by -2.22%.](https://www.altcryptotalk.com/cdn-cgi/image/f=webp,quality=90/https://cdn.prod.website-files.com/646f2b3929624746bdeafb4a/664703a0043f8b0bc30a8e00_Coin360.webp)
BTC Analysis
As anticipated in our previous outlook, BTC has rejected the $60,000 support level and traded higher.
As long as the bulls maintain control, a movement towards the upper bound of the channel and the $68,000 mark would be anticipated.
![BTC daily chart trading higher as a correction phase within a falling channel targeting the $68,000 mark.](https://www.altcryptotalk.com/cdn-cgi/image/f=webp,quality=90/https://cdn.prod.website-files.com/646f2b3929624746bdeafb4a/664703b63e6b4f2c49282b08_BTC%20DAILY.webp)
Meanwhile, as BTC retests the $60,000 - $62,000 support zone again, we will be looking for new short-term buy setups.
ETH Analysis
ETH has been uneventful this week, hovering within a range around the $2,750 - $2,900 support zone.
As long as the $2,750 support holds, a continuation towards the upper bound of the red wedge pattern is expected.
![ETH daily chart rejecting the $2900 support level.](https://www.altcryptotalk.com/cdn-cgi/image/f=webp,quality=90/https://cdn.prod.website-files.com/646f2b3929624746bdeafb4a/664703ccbc52909b1492ed6e_ETH%20DAILY.webp)
For the bulls to take over long-term and start the next impulse movement upward, a break above the last major high marked in red at $3,140 is needed.
Quote of the week
Losers average losers.
~Paul Tudor Jones
Closing Remarks
In summary, BTC rejected the $60,000 support level and surged by +4.29%.
This bullish momentum extended to several altcoins, although ETH and others ended the week on a bearish note.
BTC's upward trajectory is anticipated as long as it maintains control, with potential movement towards the upper boundary of the channel and the $68,000 mark.
Meanwhile, ETH remained within a range around the $2,750 - $2,900 support zone, with expectations of a continued upward movement if the $2,750 support level holds.
To initiate a long-term bullish trend, a break above the last major high at $3,140 is required.