BTCUSDT Weekly Chart Analysis
Major Structure: Bitcoin is experiencing a significant correction, now testing the most important multi-year support zone around $80,000–$82,000.
Patterns: The chart shows multiple rounded bottoms and a massive base structure, indicating repeated accumulation phases since 2021.
Support Zone: This highlighted area is not only a former breakout region but also converges with major horizontal and trendline support levels, making it highly significant for bulls.
If buyers defend this zone, a swift rebound toward $123,000–$130,000 is likely, maintaining the long-term uptrend.
Failure to hold here increases risk for deeper corrective moves, and the next support would be much lower.
Momentum Shift: The steepness and sharp drop into support reflect panic or forced selling, often associated with extreme sentiment lows.
DYOR | NFA
Major Structure: Bitcoin is experiencing a significant correction, now testing the most important multi-year support zone around $80,000–$82,000.
Patterns: The chart shows multiple rounded bottoms and a massive base structure, indicating repeated accumulation phases since 2021.
Support Zone: This highlighted area is not only a former breakout region but also converges with major horizontal and trendline support levels, making it highly significant for bulls.
If buyers defend this zone, a swift rebound toward $123,000–$130,000 is likely, maintaining the long-term uptrend.
Failure to hold here increases risk for deeper corrective moves, and the next support would be much lower.
Momentum Shift: The steepness and sharp drop into support reflect panic or forced selling, often associated with extreme sentiment lows.
DYOR | NFA
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.