Bitcoin & Macro Market Analysis - July 14th

iShare Bitcoin Trust Weekly Chart.

This is the largest $BTC Spot ETF run by BlackRock. The candle bar move is very similar to that of BTC market.

The blue moving average line is 50 SMA weekly. I also suppose this line is one of the most important support trend line for IBIT.

And, the most important support line is the thick white horizontal line.

The 2nd most important support line is the thick yellow bull trend line.

As I predicted, the weekly candle bar made the bull breakout against the yellow bull trend line.

Also, RSI hit 72.43 which is higher than 70.3 with previous ATH.

This means IBIT market will keep bullish for a next couple of weeks.

For more detail:

Bitcoin & Macro Market Analysis - July 14th

iShare Bitcoin Trust Weekly Chart.

This is the largest $BTC Spot ETF run by BlackRock. The candle bar move is very similar to that of BTC market.

The blue moving average line is 50 SMA weekly. I also suppose this line is one of the most important support trend line for IBIT.

And, the most important support line is the thick white horizontal line.

The 2nd most important support line is the thick yellow bull trend line.

As I predicted, the weekly candle bar made the bull breakout against the yellow bull trend line.

Also, RSI hit 72.43 which is higher than 70.3 with previous ATH.

This means IBIT market will keep bullish for a next couple of weeks.

For more detail:
https://orblabs.ventures/110284/