$BTC just gave traders one of the most important weekly closes in months.

After bouncing from the $60,000 area, the chart is still printing higher highs and higher lows inside a rising channel. Bulls are still holding the structure together, but things are getting tight now.

This week, $BTC got rejected exactly where it matters most. Right at the top of the channel and near the daily 200 MA. That level is acting like a wall right now.

So here’s the situation.

As long as $74,000 holds, the bullish structure stays alive. Buyers still control the trend and the next major level to watch is $83,000.

If Bitcoin breaks above $83,000 with strong volume, momentum can return fast and the market could start targeting the $90k to $98k region again.

But there’s another side traders should not ignore.

If $74,000 fails, weakness starts showing quickly. First downside target becomes $70,000. And if the rising channel completely breaks down, price could revisit the $60,000 zone again and wipe out most of this recovery move.

Now here’s the part most people are missing.

The BTC vs Nasdaq ratio still looks weak.

Bitcoin keeps getting rejected near the 3.0 ratio level while sitting around 2.70. That means Bitcoin still is not truly leading the market yet. Right now, it is moving more like a tech stock following Nasdaq instead of acting like a separate risk asset.

That changes only if BTC starts outperforming tech and finally breaks above that ratio resistance.

So the market is at a very important point now.

$74,000 decides if bulls stay in control.

$83,000 decides if the next real expansion phase begins.