#BTC
Bitcoin Weekly Chart Analysis: Standing at a Critical Crossroads
๐ Key Patterns: BTC has touched the same major price range on the weekly chart for the third time. This is an important signal indicating potential major volatility ahead.
Two Possible Scenarios:
1๏ธโฃ Classic Resistance Zone (Accumulation Phase)
ยท Repeated resistance at the same level suggests profit-taking sell-offs by large investors.
ยท However, if higher lows continue to form, there is a possibility it is in an accumulation phase within a long-term upward trend.
2๏ธโฃ Final Retest Before a Big Move
ยท This zone could serve as the final support test before determining the next direction.
ยท Maintaining key support = Upward structure remains
ยท Breaking below the support = Possibility of a deeper correction
๐ฏ Key Point: The overall market structure still shows an upward trend. A true trend reversal requires a breakdown of deeper support levels.
Alert: The weekly chart is preparing for a big move. Watch for confirmation signals in upcoming sessions.
