BTC/USDT – Simple Weekly Chart View
Bitcoin is currently trading around 91,000 USDT. On the weekly chart, BTC had a strong uptrend and made a high near 126,000, but after that high, price started correcting. This kind of pullback is normal after a big rally.
Right now, BTC is trading below the short-term moving averages, which shows some weakness in the short term. However, price is still above the long-term moving average, so the overall trend is not fully broken yet. Volume has also cooled down, meaning strong buying pressure is missing at the moment.
Key levels to watch:
Support: 88,000 – 90,000
Resistance: 100,000 – 105,000
If BTC holds the support zone and starts moving up with good volume, we can see a bounce. But if it breaks below support, further downside is possible before the next strong move.
My view: I am not rushing here. I prefer waiting for a clear direction or confirmation before taking any trade.
