#bitcoin

📉 Bitcoin: The moment of truth on the weekly chart (BTC/USDT 1W)

Friends, the situation on the main crypto asset looks tense. The weekly timeframe paints a rather alarming picture for us, which requires maximum discipline. Let's analyze it by facts:

1. Breakdown of the trend and SMA 20

The main negative signal is that the price confidently broke the ascending dotted trend line and went below the middle Bollinger band (SMA 20). On the weekly chart, this usually means a transition from "bullish euphoria" to a deep correction or prolonged consolidation.

2. Candlestick analysis: The battle for $65,000

The last candle left a long lower wick. This indicates that there are large limit orders to buy in the $65,000–$66,000 area. The buyer is trying to hold the "mirror" level, but the pressure from above is still enormous.

3. Indicator status (Stoch RSI)

We are in the extreme oversold zone (values ​​​​around 0).

• What does this mean? Sellers have squeezed almost all the momentum out of the market.

• What to expect? Shorting "to the floor" now is a huge risk. Historically, such values ​​​​of the Stoch RSI on 1W lead to a technical rebound (Relief Rally). But for a full-fledged reversal, we need an upward crossing of the lines, which is not yet there.

📍 Key scenarios:

• 🔴 Bearish (main): If we close the week below $65,000, the next real stop is the $55,000 area (the lower limit of Bollinger) or even the global support block at $43,000.

• 🟢 Bullish (optimistic): Return and consolidation above $70,330. This will cancel the free fall scenario and give a chance for a new range to form (sideways).

⚠️ Conclusion: The market is now "cooling off" after trying to take $110,000. Now is not the time for emotions, but to watch the $65,000 level.