Technical Analysis: A Typical Breakout Movement Occurred Over the Weekend:

As shown in the weekly chart below, Bitcoin's price increased by 2.47% and closed above the 200-week exponential moving average at $68,152 last week. Up to this week, Bitcoin has continued its gains by 6% so far, trading above its lowest level in 2025 at $74,508 on Friday.

If Bitcoin continues its rise and closes above its lowest annual level in 2025, it could extend to the 61.80% Fibonacci retracement level at $78,490 (derived from the lowest point in August 2024 at $49,000 to the all-time high in October 2025 at $126,199), which roughly aligns with the achieved trading price shown above.

The Relative Strength Index (RSI) indicates 43 on the weekly chart, surpassing the oversold region, and is trending upward toward the neutral level at 50, indicating a slowdown in bearish momentum. The Moving Average Convergence Divergence (MACD) on the same chart shows a bullish crossover, with a positive histogram supporting the bullish hypothesis.

Weekly BTC/USDT Chart
On the daily chart, Bitcoin's price broke above the upper boundary of the ascending triangle pattern (which was drawn by connecting the highs and lows with trendlines since early February) near $73,400 at the start of this week, successfully retesting the breakout level, finding support — indicating a typical breakout and retest setup.

The Relative Strength Index (RSI) on the daily chart hovers near 64, and the MACD indicator remains positive, both signaling strong bullish momentum as long as Bitcoin's price stays above the breakout point near $73,400.

On the downside, initial support is observed at the 50-day exponential moving average at $71,486. A larger pullback would reveal the 23.6% Fibonacci retracement level at $68,950 (drawn from the high on January 14 to the low on February 6), support at the upward trendline (of the triangle pattern) near $67,412, and ultimately the further horizontal bottom around $62,950.

On the bullish side, a sustained close above the 100-day exponential moving average around $75,280 and the nearby horizontal resistance at $75,680 would open the door for a 50% correction at $78,962 and the psychological level of $80,000.

$BTC Daily Chart of BTC/USDT Pair