That $75,000 level we talked about earlier? It turned out to be a big deal for Bitcoin.

As soon as $BTC dropped below that weekly support, things got ugly fast. In just a few days, the price slid right down to $60,000—pretty much exactly where we expected.

Losing $75K broke that higher high, higher low pattern on the big timeframe. That’s really what set off this sharp drop.

Now, Bitcoin’s stuck under both the 20-week and 50-week moving averages. Momentum just isn’t there on the weekly chart.

If BTC keeps trading below those moving averages, don’t expect real upside. Any rallies from here are more like short-term bounces, not a full-on trend reversal.

Looking lower, the next big spot is around the 200-week MA and the old cycle support near $50,000. That area’s been the final “reset” zone during past deep corrections.

So the setup’s pretty clear:

• If Bitcoin can claw back $75K, and then $100K, the structure starts to repair.

• But if it stays under those key moving averages, the risk of dropping toward $50K is still on the table.