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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, BTC witnessed a bullish week, closing with a +1.32% surge.

This bullish movement in BTC pushed the entire market along with it. ETH remained stable, while a couple of altcoins stood strong, closing the week bullish.

7 days crypto heatmap showing a mixture of bullish and bearish sentiment with BTC up by +1.32% and ETH down by -0.5%.
Crypto Heatmap 7-Days

BTC Analysis

As per our previous analysis, BTC has found support around the $60,000 - $62,000 zone and is currently trading higher.

For the bulls to maintain control and push higher towards the upper bound of the range at $72,000, a break above the last major high marked in orange at $67,000 is necessary.

BTC daily chart rejecting the $62,000 support and showing the last major high at $67,000 that we need a break above for the bulls to take over.
BTC Chart - Daily Timeframe

In parallel, if the support at $60,000 is broken downward, we anticipate a shift in momentum from bullish to bearish, potentially triggering a correction toward the $50,000 - $52,000 demand zone.

ETH Analysis

As anticipated in our previous analysis, ETH has rejected the $2900 support and is now trading higher.

For the bulls to maintain control and initiate the next upward impulse movement, a break above the last major high marked in orange at $3270 is needed.

ETH daily chart overall bearish trading within a falling channel and showing the last major high at $3270 that we need a break above for the bulls to take over.
ETH Chart - Daily Timeframe

Meanwhile, ETH may still trade lower to retest the $2900 - $2750 support and the lower brown trendline before trading higher again.

Quote of the week

The goal of a successful trader is to make the best trades. Money is secondary.
~Alexander Elder

Closing Remarks

In summary, BTC surged by +1.32% after rejecting the $60,000 support, leading a bullish trend that impacted the entire market. ETH remained stable while some altcoins closed the week on a bullish note.

BTC found support around the $60,000 - $62,000 zone and is currently aiming for higher levels, with a breakout above $67,000 necessary to reach the upper bound of $72,000.

ETH rejected the $2900 support level but is now trading higher. Sustaining control and initiating further upward movement requires a breakout above $3270.

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