$BTC Bitcoin (BTC/USD) on the weekly timeframe. Here's a breakdown of the key elements and possible interpretation:

Current Market Status

Price: $102,919.79 (slightly down 0.35%).

Trend: The recent candle shows a strong bullish move after a prior downtrend, suggesting a potential reversal or continuation to the upside.

Key Levels (Fibonacci Retracement)

These are drawn from the swing high (around $109,280.96) to the recent swing low (~$74,954.10):

0.382: $96,168.10 — breached, showing bullish strength.

0.5: $92,117.53 — support zone.

0.618: $88,066.96 — typical retracement level, potential support.

0.786: $82,300.05 — deeper retracement level.

1.0: $74,954.10 — swing low support.

The chart suggests bullish momentum with a potential target near $109K. A pullback toward the 0.5–0.618 zone is possible.