$BTC ‌Bitcoin on the weekly timeframe is clearly transitioning out of its prior bullish structure into a corrective phase. The chart shows a completed distribution near the highs, followed by a confirmed shift in structure (CHoCH) and multiple bearish breaks of structure (BOS), signaling that sellers have taken control for now.

After printing a weak high near the 120k–125k region, price failed to sustain momentum and rolled over aggressively. That rejection zone now stands as a major supply area, and it’s where smart money likely offloaded into late buyers. The failure to create continuation above that level confirms exhaustion at the top.

The current leg down has been impulsive, with clean structure breaks and little meaningful bullish continuation—this is not just a pullback, it’s a controlled markdown phase. Price is now trading around the 70k–80k region, attempting a short-term stabilization after the selloff.

What stands out is the reaction from the 60k–65k demand zone. That area previously acted as a strong base and is now being respected again, suggesting buyers are stepping in—but not with enough strength yet to shift the higher timeframe trend. The bounce from this zone looks corrective rather than impulsive, which means it’s likely a temporary relief unless proven otherwise.

Above current price, the 90k–95k zone is a key supply region. This aligns with the most recent breakdown area and is likely to act as resistance if price pushes higher. Any move into this region without strong momentum will likely be met with selling pressure.

The projected path on the chart reflects a realistic market behavior: a short-term push upward into resistance, followed by another leg down to sweep liquidity below recent lows, potentially revisiting the 60k region or even slightly below it. That kind of move would complete a deeper correction and tap into resting liquidity before any meaningful bullish continuation.

For bulls to regain control, Bitcoin needs to reclaim and hold above the 90k–95k zone, followed by a break back into the 110k–115k range. Without that, the market remains in a bearish-to-neutral structure on the higher timeframe.

In short, this is a classic high timeframe correction after a major expansion. Until key supply zones are reclaimed, rallies are likely to be sold into. The real opportunity may come after a full reset into strong demand, not in the middle of the current range.