Bitcoin edges higher to $64,998 with RSI and MACD showing weak momentum: weekly analysis

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Bitcoin rises 6.16% over the week

Highlights

Bitcoin remains under medium-term selling pressure, trading below key moving averages with limited bullish momentum.
Bearish weekly momentum persists, as indicator signals suggest sellers dominate with only a weak oversold bounce.
Expected price range for the next week is $60,900 to $67,200, with consolidation favored and further downside risk if $60,900 breaks.

Corporate treasury growth and ETF launch drive bitcoin sentiment this week

BlackRock launched the iShares Bitcoin Premium Income ETF (BITA), a product providing spot Bitcoin exposure while generating monthly income via call options on its Bitcoin holdings and iShares Bitcoin Trust (IBIT) shares. Marathon Digital Holdings acquired 1,000 Bitcoin for $66.7 million, further strengthening its corporate treasury. Additionally, SpaceX disclosed its holding of 18,712 Bitcoin, and Stacks' integration with Fireblocks is expanding institutional access to Bitcoin DeFi services.

Sustained weakness in momentum despite weekly bitcoin price uptick

On the weekly (W1) chart, Bitcoin is positioned below both the MA-20 and MA-50, but above the MA-200, confirming ongoing seller influence and MA-200 as crucial support. Momentum remains weak according to both MACD and ADX, while RSI, Stochastic RSI, and CCI oscillators range from oversold to neutral, highlighting recent selling pressure. Bull/Bear Power continues to reflect a seller-dominated market. Weekly volatility is high at 9.40%, with price now near the upper part of its recent range, but underlying trend momentum does not support a strong bullish interpretation.

Sideways consolidation likely as indicators limit breakout risk this week

Over the next seven days, Bitcoin is likely to consolidate in a sideways range between $60,900 and $67,200, shaped by current weak momentum signals and recent volatility. There is a low probability of a sustained upside move above $67,200, as none of the key weekly indicators issue a Buy or Strong Buy signal. If the price breaks below $60,900, further downside toward long-term support may follow given ongoing selling pressure. A potential bullish scenario would require a break above resistance and validation from momentum indicators, which remains unlikely in the current environment.

Viktoras Karapetjanc, Traders Union expert, highlights Bitcoin’s impressive weekly gain of 6.16%, with price action maintaining a constructive outlook above long-term support. He sees ongoing institutional support, as seen in BlackRock’s ETF launch and major Bitcoin acquisitions, as powerful drivers for future market growth. Despite continued seller pressure and weak technical momentum, the analyst remains confident that the fundamental and macro backdrop supports opportunity-seeking behavior. In the coming week, Karapetjanc expects price to consolidate between $60,900 and $67,200, with any decisive break above resistance likely to renew upside potential. "I see the recent institutional moves as building a strong base — any consolidation above $62,000 keeps the bullish structure intact, and I remain optimistic for further growth ahead."

In a recent review, analysts noted early signs of diminishing selling pressure in Bitcoin, as technical indicators hinted at a possible market bottom forming. With institutional involvement rising and support at the long-term moving average holding for now, market participants should monitor the $60,900 support level as a potential inflection point for the coming week.

Source of Data: BTC Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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