A weekly analysis of Bitcoin👇

The current first target on the weekly level is to return to $100,000.

From the MACD perspective, it is necessary for the MACD to break above the zero line again before discussing the subsequent bull market. This is the primary indicator of whether the bulls are alive or dead. (Very important)

If the MACD reclaims the zero line, it means the bull market is truly underway. After the DIF hovers around the zero line for a few weeks, it will gather strength again and form a golden cross, allowing Bitcoin to potentially reach new highs. All of this depends on a prerequisite: MACD must stabilize above the zero line!

In terms of price movement, the specific linkage is: as the DIF stabilizes above the zero line, the price will experience a secondary retracement, correcting for a few weeks, then attempt to break through new highs.

We see that the most recent golden cross of the KDJ indicator had a D value of only 22, which is somewhat weak. However, as the MACD stabilizes above the zero line and consolidates, the J line will retrace, and after MACD completes its correction, the J line will cross upward again. At that point, the D value should be at least around 50, making the future promising!

The states of these indicators are all interconnected.

This process will take about 2-4 months, and the market will move very slowly. Stay patient.