As long as price remains capped below the descending trendline, sellers retain control on the medium-term horizon.
#Bitcoin still bearish 🔻 Failed trendline breakout — again 🔻 Weekly close -0.40% 🔻 Current price: $64,316 🔻 Trading below all key EMAs (20/50/200) 🎯 Next target: $32,000 zone ⚠️ Not financial advice $BTC #Bitcoin #BTC #CryptoTrading #TechnicalAnalysis #Crypto
🇬🇧 Weekly Technical Analysis – BTC/USD Current Price: $65,634.95 Bitcoin remains structurally bearish on the weekly timeframe, trading inside a well-defined descending channel since the local top near $129,000. Price has yet to produce a convincing breakout above the descending trendline. The current move up looks more like a corrective relief rally within the broader downtrend rather than a genuine trend reversal. Base Case: Another corrective leg to the downside is likely, with a probable target around the $32,000 major support zone, where the long-term ascending trendline (dating back to 2023) converges with a historically significant demand area. Key Levels to Watch: $50,000: first minor support on the way down $40,000: intermediate support before the main target $31,780–$32,000: primary downside target (trendline confluence + historical support) As long as price remains capped below the descending trendline, sellers retain control on the medium-term horizon. ⚠️ This analysis is for educational purposes only and does not constitute financial advice or a trading recommendation. Always manage your own risk.
#BTC WILL BUMP YES BUT ISEE THAT THERE IS LIQUIDITY TO BE TAKEN CLOSING THIS WEEK BELOW 68.376 WILL REMAIN BAIRISH BEST TO WAIT FOR A👍NOTHER BAIRISH SQUEEZ UNDER 40000