BitcoinBTCAs attention shifted towards the weekly close, ) fell off near its three-month peak on Thursday.
Important points
- Bitcoin is retracing after its most recent trip to its highest levels for several months.
- It is worth watching the weekly candle closing as prices are aiming for their bull market support bands.
- There is a macro-lull before the deluge next week of US inflation numbers.
Bitcoin Bull Market Support Band returns after 6 months
TradingView’s data shows that BTC/USD fell to $77.200 before Wall Street opened.
As the pair remained just shy of the $80,000 threshold, they hit a high of $79,500 on the previous day, their highest since last January.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
“$BTC just keeps taking out the highs, taking out short stops without following through,” Jelle, trader commented In a recent post, X posted about the most recent price movements.
“Been a while since we saw PA like that; usually means liquidity is being generated for a larger position. The question is, when will they step on the gas?”
BTC/USD four-hour chart. Source: Jelle/X
You can also read about the advantages of using Cointelegraph reportedThe 21-week moving average exponential (EMA) is proving difficult to convert to support. Bitcoin traded last above the trendline in October 2025.
Bitcoin’s support band for the bull market is making its comeback on charts after an absence of six months.
The support band, which was formed by the 21 week EMA and 20 weeks simple moving average (SMA), lost its support shortly after Bitcoin reached the latest highs.
“$BTC Attempting to break back above the bull market support band,” trader Daan Crypto Trades confirmed.
“Eyes on the weekly close this weekend, as it will be an important one. Bitcoin has not traded above its bull market support band since October 2025.”
BTC/USD one-week chart. Source: Daan Crypto Trades/X
Fed policy, Oil seen as Next Crypto Catalysts
There was little movement in the macro market on this day. This is largely due to the US-Iran conflict.
Related: Bitcoin Bull Score hits six-month high as 2022 bear-market fears linger
In the coming weeks, the Federal Reserve will release the latest rate announcement and key US macroeconomic statistics.
You can also read about the advantages of using Cointelegraph previously notedMarkets saw little likelihood of Fed policy easing until 2027, as the geopolitical uncertainties raised the chances of inflation returning.
CME Group: Latest data FedWatch Tool The chances that the Fed will change rates next week are virtually zero.
“The cleanest tells from here are still oil and policy. Oil below $100 would support the relief case, while clearer Fed signalling would help compress the policy premium,” In its “Market ColorThe analysis for Wednesday
“Until then, the broader message remains the same: risk has stepped back from the brink, but the underlying macro and geopolitical overhang has not been cleared.”
Fed target rates (screenshot) Source: CME Group
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Source: cointelegraph.com
