This Bitcoin weekly chart shows price action from around 2020 to mid-2025. Here’s the key technical takeaway:
1. Red Zone: Major Historical Resistance Turned Support
• The shaded red area between roughly $60,000–$74,000 acted as strong resistance during multiple periods (late 2021 and again in early 2024).
• Recently, Bitcoin broke above this zone and has now successfully retested it as support.
• This behavior suggests a classic breakout and retest, which is often followed by a continuation of the trend—in this case, bullish.
2. Current Price Action
• As of the latest candle, BTC is around $96,845 and climbing (+3.26%).
• After a local top near $118,000, the price retraced, tested the red support zone, and is now bouncing—signaling renewed buying interest.
3. Trend Structure
• The overall structure is showing higher highs and higher lows—a hallmark of a strong uptrend.
• If this trend holds, a retest or even break of the $118,000 level could be in sight.
Summary
This chart paints a bullish picture: a historical resistance zone is now acting as a solid support base, and price is pushing higher off it. Traders will likely watch for a clean move above $100K as a psychological and technical breakout. $BTC
