Based on this weekly BTCUSD chart, the bigger direction still looks bearish right now.
Price action is showing that Bitcoin already failed from the higher distribution area and is now trading back down near the lower support zone around the 66k to 64k area. The structure on this chart tells a pretty clear story.
Earlier, BTC pushed up strongly, made a series of higher highs, and then formed a topping area near the 110k to 126k region. After that, the chart started printing signs of weakness: sweep highs, loss of momentum, CHoCH, then BOS to the downside. That usually means the market shifted from expansion into distribution, and now into markdown. The dashboard on the right also matches that reading: Structure bearish, Liquidity sweep, Setup wait, Filter WAIT, Phase 1 Markdown, Entry wait.
What I see in the current price action:
BTC lost the mid-range support around the 95k to 100k zone, then continued dropping through the next structure areas. After that, price broke under the 80k to 78k region, which was an important level because it looked like prior support. Once that failed, sellers stayed in control and price moved down toward the current weekly demand/support area.
Right now BTC is sitting around 66,853, very close to that green demand zone around 64k to 66k. That means this is an important decision area. It is not a strong bullish chart yet, but it is sitting at a place where short-term reaction can happen.
Here is the clean way I see:
Bearish case
As long as BTC stays below the broken structure and cannot reclaim the 72k to 74k zone, sellers still have control. The recent candles are small and weak after a strong decline, which looks more like bearish pause than real reversal. If this green support zone fails, then BTC can continue lower toward the next major area around 60k, and possibly even retest the old major low region closer to 50k to 52k shown by that lower red horizontal level.
Neutral to bounce case
Because price is already sitting inside support, BTC can still produce a relief bounce from here. But for that bounce to mean anything, it needs to reclaim levels, not just print one green candle. First, I would want to see BTC push back above 70k to 72k, then hold it. After that, reclaiming 78k to 80k would be much more meaningful. Without that reclaim, any bounce is likely just a temporary reaction inside a bigger downtrend.
Bullish reversal case
A real bullish shift would need more than just support holding. It would need a clear weekly reversal structure: hold this demand zone, break back above the recent swing highs, and start building higher lows. On this chart, that would probably mean reclaiming at least the 74k to 80k area, then later challenging the 90k zone again. Right now, that is not confirmed.
Let look at the price action:
This is a classic move from accumulation/expansion into distribution, then markdown. The market swept liquidity above, trapped late buyers, broke structure, and is now trading lower into a support area. The fact that it is sitting at support matters, but the fact that the overall structure is still bearish matters more.
So my honest opinion is:
Current direction: bearish
Current location: sitting on weekly support
Best interpretation: BTC may bounce short term, but unless it reclaims broken levels, the bigger weekly bias still points lower
The most important levels from this point are:
Support: 64k to 66k
If support breaks: 60k, then 50k to 52k
First reclaim level: 72k to 74k
Stronger bullish reclaim: 78k to 80k
Major overhead resistance later: 90k, then 100k+
So right now this does not look like a strong buy-chasing area. It looks more like wait for reaction. If BTC holds this zone and shows strong reclaim, then the bounce has room. If not, the downside likely continues.
Price action is showing that Bitcoin already failed from the higher distribution area and is now trading back down near the lower support zone around the 66k to 64k area. The structure on this chart tells a pretty clear story.
Earlier, BTC pushed up strongly, made a series of higher highs, and then formed a topping area near the 110k to 126k region. After that, the chart started printing signs of weakness: sweep highs, loss of momentum, CHoCH, then BOS to the downside. That usually means the market shifted from expansion into distribution, and now into markdown. The dashboard on the right also matches that reading: Structure bearish, Liquidity sweep, Setup wait, Filter WAIT, Phase 1 Markdown, Entry wait.
What I see in the current price action:
BTC lost the mid-range support around the 95k to 100k zone, then continued dropping through the next structure areas. After that, price broke under the 80k to 78k region, which was an important level because it looked like prior support. Once that failed, sellers stayed in control and price moved down toward the current weekly demand/support area.
Right now BTC is sitting around 66,853, very close to that green demand zone around 64k to 66k. That means this is an important decision area. It is not a strong bullish chart yet, but it is sitting at a place where short-term reaction can happen.
Here is the clean way I see:
Bearish case
As long as BTC stays below the broken structure and cannot reclaim the 72k to 74k zone, sellers still have control. The recent candles are small and weak after a strong decline, which looks more like bearish pause than real reversal. If this green support zone fails, then BTC can continue lower toward the next major area around 60k, and possibly even retest the old major low region closer to 50k to 52k shown by that lower red horizontal level.
Neutral to bounce case
Because price is already sitting inside support, BTC can still produce a relief bounce from here. But for that bounce to mean anything, it needs to reclaim levels, not just print one green candle. First, I would want to see BTC push back above 70k to 72k, then hold it. After that, reclaiming 78k to 80k would be much more meaningful. Without that reclaim, any bounce is likely just a temporary reaction inside a bigger downtrend.
Bullish reversal case
A real bullish shift would need more than just support holding. It would need a clear weekly reversal structure: hold this demand zone, break back above the recent swing highs, and start building higher lows. On this chart, that would probably mean reclaiming at least the 74k to 80k area, then later challenging the 90k zone again. Right now, that is not confirmed.
Let look at the price action:
This is a classic move from accumulation/expansion into distribution, then markdown. The market swept liquidity above, trapped late buyers, broke structure, and is now trading lower into a support area. The fact that it is sitting at support matters, but the fact that the overall structure is still bearish matters more.
So my honest opinion is:
Current direction: bearish
Current location: sitting on weekly support
Best interpretation: BTC may bounce short term, but unless it reclaims broken levels, the bigger weekly bias still points lower
The most important levels from this point are:
Support: 64k to 66k
If support breaks: 60k, then 50k to 52k
First reclaim level: 72k to 74k
Stronger bullish reclaim: 78k to 80k
Major overhead resistance later: 90k, then 100k+
So right now this does not look like a strong buy-chasing area. It looks more like wait for reaction. If BTC holds this zone and shows strong reclaim, then the bounce has room. If not, the downside likely continues.
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Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Built for traders who want clarity, not noise.
bullbearxinsights.app
bullbearxinsights.app
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.