Bitcoin Weekly Overview What Does the Market Currently Show Us?
Bitcoin has settled again around the 90 thousand band after a tough week. There is now something very clear in the chart: the price is trapped between two large regions. Above, there is a strong selling wall, while below there is a floor held by buyers. The upper region is between 98k and 102k, which is the area that Bitcoin has struggled to break through for weeks. When looking at past movements, the same table is present: when the price touches here, sellers immediately step in. Therefore, this area currently looks like the "area where the market cannot breathe." If a weekly close comes above 98 thousand, it will at least be the first sign that we can say is "strengthening." 102 thousand is the place that can completely change the story. The region below 80k – 82k is a zone that buyers have not abandoned to this day. Bitcoin dropped to this level during the last decline and received a strong reaction again. This means that this area still has some weight. If this zone is maintained, the market structure is not considered to be significantly damaged, but a weekly close below 80k could change the picture into something else. The Current Message of the Market The story is very simple for now: • If 80k – 82k is maintained, Bitcoin may try to move towards 98k again. • If 98k is exceeded, upward momentum will be regained. • If 80k is broken, the situation will change and the correction may deepen. The fact that Bitcoin is in such a squeeze on a weekly basis generally signals that "the next big move is approaching," but the direction will be determined by these two areas. #BitcoinPriceWatch #MySuggestionsforGateSquare #btc
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Bitcoin Weekly Overview What Does the Market Currently Show Us?
Bitcoin has settled again around the 90 thousand band after a tough week.
There is now something very clear in the chart: the price is trapped between two large regions.
Above, there is a strong selling wall, while below there is a floor held by buyers. The upper region is between 98k and 102k, which is the area that Bitcoin has struggled to break through for weeks.
When looking at past movements, the same table is present: when the price touches here, sellers immediately step in.
Therefore, this area currently looks like the "area where the market cannot breathe." If a weekly close comes above 98 thousand, it will at least be the first sign that we can say is "strengthening."
102 thousand is the place that can completely change the story.
The region below 80k – 82k is a zone that buyers have not abandoned to this day.
Bitcoin dropped to this level during the last decline and received a strong reaction again. This means that this area still has some weight. If this zone is maintained, the market structure is not considered to be significantly damaged, but a weekly close below 80k could change the picture into something else.
The Current Message of the Market The story is very simple for now:
• If 80k – 82k is maintained, Bitcoin may try to move towards 98k again.
• If 98k is exceeded, upward momentum will be regained.
• If 80k is broken, the situation will change and the correction may deepen.
The fact that Bitcoin is in such a squeeze on a weekly basis generally signals that "the next big move is approaching," but the direction will be determined by these two areas.
#BitcoinPriceWatch
#MySuggestionsforGateSquare
#btc