Bitcoin's Price Surge Continues with Eye on Highest Weekly Close in 9 Months.

Bitcoin (BTC) is approaching a crucial weekly close, with traders concerned about a retest of lower levels. BTC/USD is currently circling $27,000 on Bitstamp, with the key support level at $26,800. Analysts are optimistic about the short-term outlook, with the 200-week moving average potentially flipping to support. Traders are advised to watch for a potential deeper and harsh correction if BTC/USD breaks below $26,800. On weekly timeframes, BTC/USD is still in line for an impressive candle close, having last acted around $27,000 in June 2022.