Bitcoin technical analysis

Source: Dukascopy Bank SA
Bitcoin's weekly chart shows a clear shift to a bearish structure after topping near $124,000. A strong red weekly candle signals heavy selling, and price has broken below the key $83,450 support, now testing the $65,000 area.

BTC is trading below the 24-week SMA, which has started to turn down, pointing to weakening medium-term momentum. The 100-week SMA around $55,000–$58,000 is the next major support; losing it would be a serious long-term bearish signal. RSI has dropped to about 35, showing strong downside momentum and nearing oversold conditions, which could allow a short-term bounce but does not yet signal a trend reversal.



If selling continues and long-term support fails, the $30,000 zone stands out as the major historical floor. A move there would likely mean a full crypto-winter scenario and a breakdown of the broader uptrend that began in 2024.
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