This weekly Bitcoin chart shows that after a relatively deep corrective move, the price is now approaching a key support zone highlighted in purple. This area has previously acted as a demand region, triggering notable bullish reactions each time it was tested. Recent candlesticks also indicate a slowdown in bearish momentum and the potential formation of a short-term bottom.
In a likely scenario, the price may first create a minor upward bounce, then return once more for a deeper retest of this support zone. If the support holds, the market structure could shift from a corrective phase to an accumulation phase, paving the way for a strong medium-term bullish move. However, a decisive breakdown of this level would completely change the outlook, making price behavior within this zone crucial for Bitcoin’s upcoming trend trajectory.
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