This weekly Bitcoin (BTC/USDT) chart shows that after a strong bullish trend and the formation of higher highs, the market has entered a deep corrective phase. The breakdown of the bullish structure near the highs, followed by a sharp sell-off, was the first clear warning of a market phase shift. Price has now decisively moved below the mid-range equilibrium area (around the 0.5 Fibonacci level), confirming buyer weakness on the higher time frame.
At the moment, price has reached a key support zone highlighted by the green box. This area previously acted as an accumulation range and the origin of the major bullish impulse, making it a valid weekly demand zone from a market structure perspective. The initial reaction to this level confirms its importance; however, there is still no strong confirmation of a trend reversal, and further consolidation or even deeper penetration into this zone remains possible.
On the upside, the pink zone represents the main supply and resistance area. As long as price trades below this region, any upward movement should be considered a corrective pullback within a broader bearish structure rather than the start of a new bullish trend. Only a clean break and strong acceptance above this supply zone could shift the market bias back in favor of buyers.
Overall, the current Bitcoin structure favors continued selling pressure or a prolonged corrective phase unless the current support holds with strong bullish reactions and clear reversal candles. In this environment, risk management is critical, and the most rational approach for mid- to long-term traders is to base decisions strictly on price behavior around these key support and resistance zones.
Submit Your Comments
(Replying)
Please keep in mind to avoid offensive keywords and also fake information.
Be the first one to comment.