Bitcoin (BTC) Weekly Technical Outlook โ€“ Major Move Ahead?

๐Ÿ” Market Overview:

Bitcoin (BTC/USDT) is currently trading at $82,040.75, down 4.73% in the last 24 hours. The price has experienced a sharp decline from the recent high of $86,158.83, with strong volatility dominating the market.

๐Ÿ“Š Technical Analysis:

1๏ธโƒฃ Bollinger Bands (BB): Price has broken below the mid-band ($93,451.50), approaching the lower band ($76,039.62), indicating increased downside pressure.

2๏ธโƒฃ RSI (Relative Strength Index):

RSI(6): 26.90 (Oversold zone โ€“ potential for a rebound)

RSI(14): 45.92 (Weak momentum, bearish bias)

RSI(24): 52.35 (Neutral)

3๏ธโƒฃ Stochastic RSI: 1.29 (Extremely oversold, potential bounce ahead)

4๏ธโƒฃ Williams %R (14): -87.93 (Deep oversold zone, suggesting a possible reversal soon)

๐Ÿ“‰ Market Structure (SMC) Signal:

Price is approaching key weekly support near $76,000, which aligns with the lower Bollinger Band and a key demand zone.

If BTC holds this level, we may see a short-term bullish correction back toward $88,000 - $90,000.

However, a confirmed weekly close below $80,000 could trigger a further drop toward $74,000 - $72,000.

โšก ๐Ÿ”ฅ Trading Signal โ€“ BUY ZONE (High-Risk Short-Term Setup) ๐Ÿ”ฅโšก

๐Ÿ“Œ Entry Zone: $76,500 - $78,000

๐Ÿ“Œ Take Profit (TP): $88,000 - $90,000

๐Ÿ“Œ Stop Loss (SL): $74,500

๐Ÿš€ Fundamental Outlook:

Bitcoin remains in a pre-halving accumulation phase, and whales might be taking advantage of price dips to accumulate more. The next big move will be determined by how BTC reacts at the $76,000 support zone.

๐Ÿ”” Final Thought:

If Bitcoin holds the $76,000 - $78,000 support zone, expect a strong bounce. But if BTC fails to sustain above $80,000, we could see a deeper correction before the next leg up! Risk management is crucial!

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