BTC Weekly Chart Update ๐
Bitcoin is currently approaching a very important rising MAJOR SUPPORT that has held the market structure since 2021.
This support zone has been tested multiple times in the past, and every touch resulted in a strong bullish reaction, confirming it as a key long-term level.
After the last bounce from this support, BTC made a strong expansion and formed a large bullish move before creating a top near the recent highs.
Since that peak, the market started a corrective phase and is now moving inside a measured decline.
Based on the previous expansion range, the current pullback is approaching the projected 2xโ3x move, which points toward the Reversal Area near the rising support zone around 50k.
This area could act as a major reaction point.
If buyers step in again like before, we may see a strong bounce and continuation of the long-term uptrend.
However, if the support fails, the market structure could weaken and BTC may drop lower before finding the next balance zone.
For now, the chart suggests a possible move into the reversal area followed by a potential bullish reaction.
What do you think โ will BTC hold the support or break it? ๐
Not financial advice.