Bitcoin $BTC / USD) – Weekly Technical Analysis

Bitcoin continues to trade under bearish pressure after failing to reclaim the key resistance region. The weekly structure remains corrective, with price currently testing a major demand zone around $58,000–$60,000, which has acted as an important support area in previous cycles.
The 50-week moving average has turned into immediate resistance, while the 100-week moving average is also sloping downward, indicating that the broader trend remains weak. Bulls must reclaim and sustain a weekly close above $67,400 to invalidate the current bearish momentum and open the path toward the next resistance zone around $68,000–$72,000.
As long as Bitcoin remains below this level, the probability of another leg lower cannot be ruled out. A decisive breakdown below the current support zone could trigger a move toward the next weekly demand area near $49,000–$52,000, where stronger buying interest may emerge.
From an Elliott Wave perspective, the current price action suggests the corrective phase may not be complete, and confirmation will come only after price either reclaims the key resistance or loses the present support.
Key Levels
Resistance: $65,400, $68,000–$72,000
Support 1: $58,000–$60,000
Support 2: $49,000–$52,000
Outlook: Bearish below $67.4K. A weekly close above this level would improve the medium-term outlook, while failure to hold the current support zone increases the probability of a decline toward the next weekly demand area.