Bitcoin is at a critical moment of this bull market flirting with the 20W SMA. The last time it touched this critical support was in September 2020, where it kicked of the bull market by holding it as support. If we see a weekly close below the 20W SMA, we could see a lack of confidence in the altcoin market and potentially short-term capitulation. Otherwise, in case of a bounce, we could potentially see a relatively quick Bitcoin surge to the 60K range and test this critical resistance level.
