Bitcoin's Weekly Bullish Divergence Ignites Altcoin Frenzy
Bitcoin has posted a significant weekly bullish divergence that has propelled its price above key levels. The current price of BTC is $77,158.19. This move has pulled altcoins higher in its wake, with some assets already displaying impressive setups.
Michaël van de Poppe highlighted that many altcoins are exhibiting phenomenal setups, and Ethereum (0xb50721bcf8d664c30412cfbc6cf7a15145234ad1) is tracking the move. Assets like SEI are also printing similar breakouts that could deliver 5-10x returns.
The price of BTC sits within the Bollinger Bands, with upper resistance at $79,279.52 and lower support at $76,700.09. The 4-hour structure remains bearish, as the EMA50 at $77,513.1 caps upside while the EMA200 at $71,858.75 offers deeper support.
Despite this, the weekly divergence continues to dominate higher-timeframe direction and keeps the path open for continuation once short-term volatility exhausts.