Weekly Bitcoin Technical Analysis

WEEKLY BITCOIN TECHNICAL ANALYSIS Hey folks, just a heads up, don’t take my thoughts here as a solid guide for making any investment choices. This is just my personal take on what I see happening with Bitcoin from a technical standpoint. I might be off base, and I’m totally cool with feedback, corrections, or different viewpoints. I’m not claiming I can foresee Bitcoin’s next moves, not even close. I’m just sharing how I view the charts, since technical analysis is still a legit method in the finance world, whether it's Bitcoin or other assets. It’s just about interpreting the data on the chart and figuring out potential responses based on price action and structure. So please, don’t treat my analysis like a signal to jump in or out of Bitcoin. Stick to your own game plan or strategy, whatever suits you best. If you’re into dollar-cost averaging or another method, keep that up. Don’t change your approach just because of what I share here. What I’m posting isn’t meant to replace your judgment or act as a financial tip, just a technical perspective. I want to stress again, this isn’t about promoting high-volatility trading or anything like that. That’s not what I’m aiming for. The point of this thread is just to talk about Bitcoin from a technical viewpoint.

From the chart above, we can see that Bitcoin is currently reacting around a key support zone, roughly between $104,000 and $109,000, after a few rejections in that same region in previous weeks.. Just below the current price, we can see the 50% Fib Zone ( around $100,700) which aligns perfectly with another historical reaction level.. This level could act as a potential retracement zone if Bitcoin fails to hold the immediate support.. I mean if Bitcoin breaks below the current support, the 50% Fib level might be the next logical support level.. Overall, from a technical perspective, the current structure shows Bitcoin still holding a bullish structure overall, but clearly in a correction or pullback phase.. As long as the support holds the overall bias is still very bullish in the long term… Chart Content Color Settings: Background: Black Bullish Candlestick: Green Bearish Candlestick: Red Support & Resistance Lines: Light Cyan Blue Price Labels: Light Cyan Blue Common Abbreviations: 50% FIB  – 0.5 Fibonacci Level FIB         – Fibonacci Retracement BTT        –  Bitcoin Talk

From the chart above, we can see that Bitcoin is currently reacting around a key support zone, roughly between $100,500 and $100,700, after a few rejections in that same region in previous weeks.. Last week we talked about seeing "The 50% Fib Zone ( around $100,700) which we said it aligns perfectly with another historical reaction level.. We also said the level could act as a potential retracement zone if Bitcoin fails to hold the previous support @ $104,000 and $109,000 support.. Making it clear that if Bitcoin breaks below the previous current support, the 50% Fib level which is at current $100,700 will be the next logical support level". Now in the space of a week, our anticipation play out, price is currently around the $100,700 region, which is also a strong psychological level.. Overall, from a technical perspective, the current structure still shows Bitcoin is still holding a bullish structure overall, still in a correction or pullback phase, but might likely react at this $100,700 support (psychological) level for continuous upside movement..  As long as this support holds the overall bias is still very bullish in the long term… Chart Content Color Settings: Background: Black Bullish Candlestick: Green Bearish Candlestick: Red Support & Resistance Lines: Light Cyan Blue Price Labels: Light Cyan Blue Common Abbreviations: 50% FIB  – 0.5 Fibonacci Level FIB         – Fibonacci Retracement BTT        –  Bitcoin Talk