Bitcoin Price Weekly Outlook

The past week’s price action has been rather lackluster for Bitcoin. After seeing a big bounce from $60,000, the price failed to get above short-term resistance at $71,800 last week. Instead, the price tested the short-term support at $65,650 before bouncing back up to close the week out at $68,811. While the weekly chart is showing some buying strength below $66,000, the lack of follow-through for buyers on the bounces so far is a sign of weakness. Look for the price to drift towards the $60,000 lows this week if the bulls can’t keep it above $71,000 on a daily close to challenge higher levels.

Key Support and Resistance Levels Now

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