🔷️ $BTC is now trading directly above a major long-term support zone after losing both the 2021 ATH and 2024 ATH levels. The rejection from the purple resistance area confirmed that sellers are still controlling momentum in the medium term, while the current weekly structure shows continued pressure toward the green support region. 📉

What makes this area important is that the market is approaching a zone that previously acted as a strong demand cluster. Historically, $Bitcoin has often produced sharp reactions when revisiting major support after extended corrections. Buyers now have a critical opportunity to defend the structure before a deeper retracement develops. 👀
From a technical perspective, the current trend remains bearish below the blue and purple resistance bands. Any meaningful recovery would first require reclaiming those lost levels and turning them back into support. Until that happens, rallies may continue to face selling pressure. ⚠️
At the same time, panic is often highest when price reaches historically significant support zones. The next few weekly candles could determine whether this is a local capitulation phase or the beginning of a broader downside extension. For now, all eyes remain on the green support area and the market's reaction around it. 🔥
📊 Key observations:
🟢 Price is testing major long-term support.
🟢 Green zone remains the most important area on the chart.
🟡 Former ATH levels have turned into resistance.
🔴 Weekly structure remains under pressure until resistance is reclaimed.
⚠️ Not financial advice.
#BTC #Bitcoin #Crypto #Ethereum #Altcoins