Technical analysis by bbqgio about Symbol BTC on 20 hour ago

Bitcoin on the weekly chart has shifted from strong trend to corrective territory. After topping twice near the 125,000 resistance, price has broken below the 20-week and 60-week MAs (around 110,662 and 99,350), and is now pressing into the 86,000 demand area and the prior swing low near 85,250. This aligns with a moderately confirmed Double Top, with the neckline around 105,000 now acting as key resistance within a broader, still-intact long-term uptrend supported by the 120-week MA near 75,292. The primary path favors further downside as long as BTCUSD holds below the neckline and the 99,000–105,000 region. A weekly close below 85,250 would confirm a bearish Market Structure Shift, validating the Double Top and opening room toward 82,000 and then the 75,500 target just above the 120-week MA. In this scenario, rallies back toward 95,000–99,000 are likely to be treated as corrective bounces within a dominant downtrend. If buyers can defend 86,000 and push for a 1W close above 98,000, the focus shifts to a mean-reversion move toward the 60-week MA and the 105,000 neckline, with potential extension toward 112,000. A sustained weekly close back above 95,000–98,000 would begin to weaken the bearish thesis. This is a study, not financial advice. Manage risk and invalidations. Thought of the Day 💡: Clear triggers and invalidations matter more than perfect forecasts. -------------------------- Thanks for your support! If you found this idea helpful or learned something new, drop a like 👍 and leave a comment, I’d love to hear your thoughts!