Weekly Technical Analysis
Last week, we anticipated a deeper BTC correction toward the $109,000 area and an ETH pullback below $3,000 before the uptrend resumed.
However, Bitcoin kept climbing from around $112,000.
The main uptrend from $130,000 to $150,000 remains intact.
🔥 Key Levels
Resistance: $119,500 – the key zone, which had held for five weeks
Support 1: $111,980 – the previous all-time high
Support 2: $109,000 – potential downside correction target
📝 Scenarios
1. Base case: A decisive breakout and close above $119,500 on high volume, sweeping liquidity between $119,800 and $123,180, then pushing price toward the $130K–$150K range.
2. Alternative: A false breakout at $119,500, followed by a return into the range and a decline toward $111,980–$109,000.
⚠️ To confirm the breakout, Bitcoin needs to close and hold above $119,500 on strong volume.
ETH’s weekly candles have closed decisively higher after absorbing selling pressure. Price has stayed above the monthly VWAP, confirming buyer strength.
🔥 Key Levels
Resistance: $4,100 – the nearest broken level; $4,868–$4,900 – all-time high.
Support 1: $3,900 – potential buying zone;
Support 2: $3,800 – critical level, a breakdown would signal a bearish scenario.
📝Scenarios
1. Base case: A pullback to $4,100 or $3,900, followed by a retest of the all-time high at $4,868–$4,900, potentially offering up to 15% upside if BTC confirms the move.
2. Alternative: A close below $3,800 would signal buyer weakness and trigger a bearish scenario.
**IMPORTANT DISCLAIMER:**
All investments involve risk.
Past performance ≠ future results.
