Bitcoin is at a critical juncture . Market watchers and analysts are turning their attention to the closing of this week’s candle, which could either confirm the resilience of the current recovery or signal the start of a deeper corrective phase. In a recent analysis shared on X, respected market analyst EGRAG Crypto highlighted a compelling historical pattern that could shed light on what lies ahead for the world’s leading cryptocurrency. #BTC – This Weekly Candle: Make It or Break It In the last cycle, #BTC dropped below the yellow moving average twice. The first time, it managed to recover and continued the #BULL run, forming a double top. However, the second recovery lasted just one week before it fell… pic.twitter.com/0kqF8JX0b3 — EGRAG CRYPTO (@egragcrypto) April 29, 2025 Revisiting the 2021 Cycle for Clues EGRAG draws a parallel between Bitcoin’s current position and the 2021 cycle, where a similar structure unfolded. During that bull run, Bitcoin dipped below the yellow moving average line twice. The first drop was short-lived, and BTC quickly reclaimed the trendline, rallying to form a double top. However, the second breach was more severe: although Bitcoin momentarily bounced back, it failed to sustain momentum and fell beneath the trendline just one week later, triggering a prolonged bear market. Today’s chart suggests that BTC may be repeating this pattern. After an initial drop below the same key moving average, Bitcoin has once again recovered. But the question remains—will this second recovery mirror the resilience of the 2021 double top, or will it unravel like the final leg before the last bear cycle? Technical Indicators Suggest a Pivotal Phase EGRAG emphasizes that the weekly candle’s closure is crucial. A strong bullish close above the moving average would significantly improve market sentiment and lend credence to the idea that BTC could be headed toward a parabolic rally, possibly targeting the $150,000 range . On the flip side, a weak or bearish close could confirm waning momentum and open the door for downside risk. To add weight to the analysis, EGRAG is currently examining five separate oscillators to validate the trend. These likely include key tools such as the RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence), stochastic RSI, volume-based momentum indicators, and moving average crossovers—all of which are widely used by technical analysts to gauge potential market direction. Macro and Sentiment Contexts Reinforce Uncertainty Bitcoin’s current indecision is unfolding amid mixed macroeconomic signals. On one hand, increasing institutional adoption and the recent launch of spot Bitcoin ETFs in the U.S. and Hong Kong are pushing long-term sentiment into bullish territory. On the other hand, lingering inflation concerns, Fed policy uncertainty, and profit-taking by short-term holders are keeping upward momentum in check. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 In this context, the importance of the weekly candle cannot be overstated. A bullish confirmation could reignite retail enthusiasm and bring sidelined capital back into the market. But if Bitcoin falters here, it could embolden bears and create a domino effect of negative momentum, reminiscent of past capitulation events. BTC’s Future Hinges on Key Levels If history is any guide, the next few days could set the tone for Bitcoin’s trajectory in the coming months. Should Bitcoin decisively close above the yellow moving average, it would validate a bullish continuation and open the possibility of surpassing previous all-time highs. However, a failure to hold this level might push BTC back into the $50,000s or lower, challenging investor confidence once again. As EGRAG Crypto aptly points out, “This is make or break.” Traders, investors, and institutions alike are watching this week’s close with anticipation. Whether Bitcoin will replicate the bullish follow-through of the first cycle or stumble as it did before the bear market of 2022 is a question that only time—and this candle—will answer. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Bitcoin (BTC) Weekly Candle: A Make-or-Break Moment appeared first on Times Tabloid .
