The weekly chart has shifted from a long-term bullish trend into a corrective bearish phase after failing to hold its previous higher-low structure. The highlighted $57k–60k demand zone is the most important level on the chart because it represents the origin of the prior major breakout. A strong weekly defense here could mark the beginning of a new accumulation phase, while a confirmed weekly close below it would significantly increase the probability of a move toward the $50k and $43k regions.
Trading approach: Rather than anticipating a reversal, wait for confirmation. A bullish weekly reversal pattern, increased buying volume, and a break above the nearest lower high would provide much stronger evidence that buyers are regaining control. Until then, the broader weekly structure remains cautious to bearish.
$BTC #bearish
Trading approach: Rather than anticipating a reversal, wait for confirmation. A bullish weekly reversal pattern, increased buying volume, and a break above the nearest lower high would provide much stronger evidence that buyers are regaining control. Until then, the broader weekly structure remains cautious to bearish.
$BTC #bearish