Bitcoin closed the week at a record $109,200, confirming the strength of the bull market despite recent fluctuations in the crypto market.
Current Market Conditions
Currently, Bitcoin is trading around $109,428. The market has been moving sideways in recent days, with Bitcoin bouncing between important price zones. A break past $112,000 is needed to initiate a new upward rally.
Key Price Levels
Key price levels:
- Resistance: $110,000 to $112,000 - Support: $103,000 to $105,500
As long as Bitcoin remains above its support levels, the market retains a healthy position.
Market Impact
This strong weekly close comes at an important time as the U.S. Congress prepares for Crypto Week starting July 14. This event could lead to the introduction of new laws and regulations, potentially attracting significant investment.
The strong weekly close of Bitcoin demonstrates market resilience, with further movements and possible price growth expected in the coming months.
