The most bullish news for BTC is not the Presidents Crypto Summit on 3/7/25 or a Strategic BTC Reserve. The most bullish news would be for the weekly candle close in 48 hours to close above $93,500. This would be back to back weeks creating long wicks to the downside signaling lots of buying pressure as well as confirmation that $93,500 is a long term support level. A close above the $93,500 level would also continue the trend from Nov 2024. Failure to close this week above $93,500 could lead to retest of the 50 week EMA as support, which also aligns with a 100% fill of the CME gap that was created in November 2024.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.