BTC just printed one of the strongest weekly rejections of this cycle. Price is now sitting exactly on the mid-range support after a 40K drawdown in just 42 days.
Here’s what the chart signals:
1) Key Support Zone Price has tapped the mid-range demand (≈86K–83K). This is the zone where buyers defended previously.
2) 200-Week Trendline Alignment The rising long-term trendline sits near 83,100. A wick into this level is still structurally bullish as long as weekly closes stay above it.
3) What Happens Next?
Bullish Scenario – Strong bounce from 83K zone – Weekly close back above 88.5K – Reclaims mid-range → liquidity push to 97K+ (Alts will breathe only if BTC stabilizes here)
Bearish Scenario – A clean weekly close below 83K – Opens doors to the lower demand zone around 74K–75K – Alts likely see deeper corrections
4) Market Context Big candles like this usually come at cycle mid-points, not tops. So next two weekly closes are critical for trend confirmation.