BTC: The upside bias holds?Bitcoin / U.S. dollarBITSTAMP:BTCUSDXBTFXWhile traditional markets are currently running in a roller-coaster mode, the crypto market remains relatively resilient to macro and geopolitical developments. While US equities and gold were losing in value, BTC even tried to break the highest level from the beginning of March this year. The highest weekly level reached was $75,9K but there was no strength for a further push. The increasing oil prices strongly support investors' fears that increasing inflation will impact central bankers' decision to increase interest rates. This would mean less liquidity on the market, and consequently, less liquidity for BTC. The coin swiftly returned for the weekly starting point of around $70K. The RSI reached the highest weekly level at 60, and returned toward the 49. The bias toward the oversold market side still holds, which is positive for BTC. Moving averages of 50 and 200 days continue to move as two parallel lines with a downtrend, without change from the previous period. In the week ahead BTC could test levels below the $70K. However, what is positive in this moment is that BTC is managing to hold the $70K, even with higher corrections on traditional markets. This is indication that investors are slowly returning to the crypto market, but waiting for a clear macro signal for a higher return. Testing of the $75K resistance has increased the probability of BTCs path toward the $80K as next resistance. The exact moment of such a move cannot be predicted based on current charts, but the probability is increased. On the opposite side, levels between $68K and $65K could be also tested, but the bias is toward the upside.