✨ Bitcoin Weekly Closing Hint Could Unlock Its Next Bull Market 🐂

Bitcoin remains at a pivotal moment as traders await the weekly close, with critical support levels looming and market sentiment divided over whether the cryptocurrency can sustain its current bullish momentum. As macroeconomic factors and technical signals intertwine, renewed optimism hinges on progress in U.S. political negotiations and positive developments in global trade policies.

Bitcoin is approaching a crucial weekly close, with $103.5K as a significant threshold based on Fibonacci retracement levels.

Market experts warn that a weekly close below key support could signal the end of the recent bull run, though an optimistic outlook remains. Hopes for a market boost are tied to potential resolution of the U.S. government shutdown and potential relief on international trade tariffs.

Bitcoin (BTC) is trading within a narrow range as traders eye a critical weekly closing price, with $100,000 acting as a psychological and technical support level. The market has experienced low volatility over the weekend, with investors closely watching how the weekly candle will shape up in the coming days.

BTC price counts down to major weekly close reveal subdued price activity ahead of significant weekly settlement. The key focus remains on whether Bitcoin can close above the $103,500 level, a mark rooted in Fibonacci retracement analysis, which could uphold the ongoing bull cycle.

The significance of the $103,500 threshold: "Key level of the week: $103.5K. A weekly close below this could hint at the end of the current bull run, though he notes, "A breakdown next week would signal the bull market is likely over. Not there yet."

BTC/USD one-week chart.

Meanwhile, the 50-week exponential moving average (EMA), sitting at $100,940, is viewed as a vital indicator of strength. Traders warn that closing below this level could undermine the current bullish outlook.

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