Bitcoin Long-Term Channel Analysis | BTCUSD to $163K Target |Bitcoin is currently respecting a multi-year ascending channel on the weekly chart. The price recently touched the lower trendline support, suggesting that the long-term structure is still intact.
This setup highlights a classic “higher highs and higher lows” pattern within the parallel channel, showing that BTC continues to follow its historical rhythm of expansion and correction phases.
Observations :
• Channel support: around $90,000 – $95,000 zone
• Channel resistance: projected near $160,000 – $165,000
• 200 EMA on the weekly chart near $66,000 providing long-term trend support
• RSI showing signs of recovery from the mid-zone
Technical Outlook:
If Bitcoin maintains the current channel support and forms a bullish reversal candle on the weekly close, the next leg of the rally could target $160K+ within the same channel structure.
Invalidation occurs on a confirmed weekly close below $90K, which would signal a potential trend shift.
Market Sentiment : Bullish (Long-Term)
Timeframe: Weekly
Style: Positional / Long-Term Analysis
Disclaimer: This is a personal technical view for educational purposes, not financial advice.
