BTCUSD, Weekly AnalysisThis week, BTCUSD displayed a mix of consolidation and minor bearish momentum. After testing key resistance levels near $97,000, Bitcoin struggled to sustain upward momentum, hovering below critical resistance. Support levels at $91,000 continue to hold, while volume suggests declining interest from market participants.
Key focus points:
Resistance: $97,000 and $109,000 (long-term POC).
Support: $91,000 and $89,000.
Trendline: Downward short-term slope visible, reflecting bearish consolidation.
🔍 Short-Term:
Bitcoin is likely to trade within the $91,000–$97,000 range over the next few days. Consolidation is expected unless significant volume drives a breakout above $97,000 or a breakdown below $91,000.
🔮 Long-Term Outlook:
On the weekly and monthly charts, Bitcoin remains in an overall uptrend despite the current correction. The key level to watch is the major support around $89,000–$91,000. A bounce from here could lead to retesting $109,000. However, failure to hold this range may result in a sharper pullback toward $83,000 or $73,000.
