# BTC Weekly Market Analysis:

**Weekly Chart:**
Last week's long upper-wick bearish candlestick saw the high touch the 76,000 resistance level before pulling back and breaking below the critical 74,000 level. Above 74,000 represents an important resistance zone; only a breakout above 74,000 would provide an opportunity for weekly reversal. Currently, the weekly chart remains in a downtrend channel. Key support below is around 65,800 (ascending trendline), and current weekly resistance is near 70,800; a breakthrough here would create upside room. Overall weekly indicators show bearish crossovers, with MACD momentum bars contracting.

**Daily Chart:**
The daily chart has broken below the ascending channel with volume expanding on the downside and contracting on upside—near-term conditions unfavorable for bulls. Key support levels for potential continued pullback:
- 68,000 (chip concentration zone)
- 66,000 (lower support of ascending channel)
- 62,000 (previous low support)

Near-term resistance at approximately 70,000, with strong resistance at 72,000 (FVG gap + channel midline). If the important support near 66,000 breaks, a bearish flag formation could develop with target around 58,000. Daily MACD and RSI show bearish crossovers.

**Short-term:**
Focus on 4-hour timeframe for short-term opportunities; watch and wait for favorable entries.