🚨 Bitcoin's Weekly Chart is SCREAMING – Pay Attention!
Bitcoin is facing a critical moment. $BTC is currently around $88,690, and a death cross is looming on the weekly chart. This isn't hype; it's a technical setup that demands respect.
Right now, Bitcoin is battling below the 23-week and 50-week moving averages (around $101,870 and $106,528). Every rally is being smashed by sellers eager to lock in profits. If the shorter moving average dips below the longer one, the death cross confirms, and downside pressure intensifies.
Two scenarios are unfolding. Can $BTC reclaim $101,870 - $106,528 on the weekly close and invalidate this bearish pattern? Or will sellers dominate?
If Bitcoin fails, initial support lies at $80,600, followed by $74,111. A break below $80,600 changes EVERYTHING – we're talking serious risk management, with the 200-week moving average at $67,026 as the next battleground. A 25% drop from here lands right at that $67,000 level. 🤯
The next few weekly closes are EVERYTHING. Buyers need to step up NOW or risk another leg down. Don't get caught sleeping on this. $ETH is watching closely too.
#Bitcoin #Crypto #BTC #DeathCross 🚀
