Technical analysis $BTC (weekly frame)

Bitcoin is clearly in a downtrend after breaking the important support range of 84.5K – 86K with a strong selling weekly candle, confirming the breakout signal. The 76K area now only serves as short-term support and is being breached with weak rebound reactions, indicating that sellers still have the upper hand.

In terms of market structure, BTC has formed lower highs and lower lows, confirming the medium-term downtrend. Significant selling pressure, along with strong liquidation events recently, keeps market sentiment cautious.

The next notable support area is around 55K – 56K, which is the confluence of previous lows and an accumulation zone in the past, likely to attract buying interest as the price approaches.

In the current context, the prevailing trend remains down with key levels to monitor being 68K → 62K → 56K.

Only if Bitcoin closes the weekly candle above the 86K area, will the scenario for a bullish reversal have grounds for consideration.