$BTC From Bitcoin's weekly chart, Bitcoin rebounded rapidly from $75,500 to above $81,000 this week, but it remains under pressure below this month's high of $82,300, indicating that recent price action continues to consolidate at elevated levels.
Currently, Bitcoin faces a key resistance zone of $83,000-$84,000 on the upside. Meanwhile, $84,000 sits below the 60-period simple moving average (SMA60), where confluent resistance may form. If Bitcoin can convincingly break out and hold above $84,000, it will open up upside potential toward $98,000-$100,000.
Conversely, if Bitcoin remains under pressure below $84,000 and shows signals of sustained weakness, it may continue to trade within the $75,000-$83,000 range in the short term. If it falls below $75,000, Bitcoin may enter a deeper correction phase, potentially sliding toward the $70,000 mark.
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