BTC: Retreats, but $70K holdsBitcoin / U.S. dollarBITSTAMP:BTCUSDXBTFXBitcoin experienced a volatile week as investor`s balanced strong institutional demand against a mixed macroeconomic backdrop. The uncertainty surrounding Federal Reserve policy and broader economic data kept traders cautious, leading to increased price fluctuations throughout the week, as well as backdrop toward the $73K. The good news is that BTC is still holding strongly above the $70K, signaling that recent weakness might be short term. The week started positively, with levels modestly below the $78K, however, the sentiment during the rest of the week was not positive. The lowest weekly level was $72,7K, while Saturday trading was more on a buying side. The RSI is still holding grounds below the level of 50, with weekly close at 37. Moving averages of 50 and 200 days are moving as two parallel lines, indicating a potential cross in the near term future. The risk-on-risk-off sentiment is still active on the crypto market. Unstable macro picture and anticipation of future Fed moves brings uncertainty among investors. Based on current charts, there is some probability that the level of $70K might be tested in the coming period. However, if demand for BTC from Saturday holds through the rest of the week, then BTC might shortly return back toward the $75K, or in the best case toward the $77K but with lower probability.