The cryptocurrency market, particularly Bitcoin (BTC), has been showing promising signs on its weekly chart, as highlighted by a recent tweet from a prominent crypto analyst on social media. On May 20, 2025, a post by Kook Capital LLC on Twitter described the BTC weekly chart as 'looking delicious,' signaling strong bullish sentiment among traders. This statement comes at a time when Bitcoin has been navigating a critical resistance zone around $68,000, a level it briefly surpassed on May 19, 2025, at 14:00 UTC, reaching a high of $68,250 before retracing to $67,800 by 20:00 UTC, according to data from CoinMarketCap. Trading volume during this period spiked by 18% compared to the previous week, with over $25 billion in BTC transactions recorded across major exchanges like Binance and Coinbase. This surge in activity aligns with broader market optimism, as the stock market also exhibited strength, with the S&P 500 gaining 1.2% for the week ending May 16, 2025, per Bloomberg data. This correlation suggests a growing risk-on sentiment among investors, potentially driving capital into both equities and cryptocurrencies. The interplay between traditional markets and crypto assets is becoming increasingly evident, especially as institutional players continue to allocate funds to Bitcoin ETFs, which saw inflows of $300 million in the past week alone, as reported by CoinDesk. For traders, this weekly chart analysis indicates a potential breakout if BTC can sustain above $68,000, making it a key level to watch in the coming days.

From a trading perspective, the bullish outlook on Bitcoin’s weekly chart offers several opportunities and risks that crypto investors must consider. The price action on May 19, 2025, showed a strong push above the $68,000 resistance, with the BTC/USDT pair on Binance recording a 2.5% increase within 6 hours (14:00 to 20:00 UTC), before a minor pullback. This movement was accompanied by a 15% rise in trading volume for the BTC/USDT pair, reaching $8.2 billion for the day, as per Binance’s official data. Simultaneously, the stock market’s positive momentum, particularly in tech-heavy indices like the NASDAQ, which rose 1.5% on May 16, 2025, per Reuters, appears to be influencing crypto sentiment. This cross-market correlation suggests that traders could capitalize on BTC’s momentum by entering long positions if the price holds above $67,500, with a potential target of $70,000 in the near term. However, the risk of a rejection at $68,000 remains, especially if stock market volatility increases due to upcoming economic data releases. Institutional inflows into Bitcoin ETFs also play a critical role, as they signal sustained interest from traditional finance, potentially stabilizing BTC’s price during pullbacks. Traders should monitor pairs like BTC/ETH, which saw a 1.8% divergence on May 19, 2025, indicating relative strength in Bitcoin over Ethereum during this period.

Diving into technical indicators, Bitcoin’s weekly chart shows a clear bullish trend, with the Relative Strength Index (RSI) sitting at 62 as of May 20, 2025, 10:00 UTC, according to TradingView data, suggesting room for further upside before overbought conditions are reached. The Moving Average Convergence Divergence (MACD) also flipped bullish on the weekly timeframe, with a crossover confirmed on May 18, 2025, at 00:00 UTC. On-chain metrics further support this outlook, as Glassnode reported a 12% increase in active BTC addresses over the past week, reaching 1.1 million by May 19, 2025, reflecting growing network activity. Trading volumes across major pairs like BTC/USDT and BTC/ETH remain elevated, with Coinbase reporting $3.5 billion in BTC trades for the week ending May 19, 2025. In terms of stock-crypto correlation, the S&P 500’s upward trajectory has historically coincided with BTC rallies, with a correlation coefficient of 0.6 over the past month, as noted by CoinGecko. This relationship highlights how risk appetite in traditional markets can spill over into crypto, creating opportunities for swing traders. Institutional money flow, particularly into crypto-related stocks like MicroStrategy (MSTR), which gained 3.2% on May 16, 2025, per Yahoo Finance, also underscores the growing linkage. For traders, key levels to watch include support at $66,500 and resistance at $68,500, with a breakout above the latter potentially signaling a move toward $72,000.

In summary, the bullish sentiment around Bitcoin’s weekly chart, combined with positive stock market trends, presents a compelling case for traders to explore long positions while remaining cautious of resistance levels. The interplay between institutional inflows, stock market movements, and on-chain data will be crucial in determining BTC’s next major move. As always, risk management remains paramount in such a volatile market environment.