The crypto market has recently experienced significant movements, particularly with a notable rise in Bitcoin. Below are the current trends, technical indicators, and on-chain metrics that provide insight into the dynamics influencing the BTC price this week and the future outlook of the crypto queen.
Is Bitcoin heading towards a new bullish trend?
Technical indicators such as the RSI and OBV show a clear trend reversal, suggesting a decrease in selling pressure and the emergence of a new bullish trend for Bitcoin. Furthermore, on-chain metrics like the MVRV confirm this positive dynamic. Additionally, the highest weekly close since June reinforces the notion of a trend change, with key price levels to watch, notably €64,800 and €67,500.
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