Bitcoin weekly: TACO

Bitcoin bounced, then closed the week right below short term weekly resistance. Conservative price target of $142k remains.

Last week, as markets were down across the board after the tariff and job number scares, we had this to say about BTC:

The breakout has not been invalidated, and the price target remains at $142k. So with that in mind, it’s much too early to call any tops.

Let’s see what the stock markets do this week in response to last week’s tariff news. But for now, a mindset of patience and buy-the-dip seems the most rational.

And well, that did indeed turn out to be the right call. Stocks bounced back. Bitcoin bounced back.

There is some US inflation data coming in this week, so we’ll keep an eye on that. But for now, there is still nothing bearish about the weekly bitcoin chart, and the most likely path is up from here.