BTC Weekly Technical Analysis by Mako Sharks

Bitcoin kicks off its week at 67.6! Uncertainty is still very present, and week by week we are getting a tighter and tighter weekly range. Will BTC manage to stabilize around the 60k zone and ignite at least a small Hopium flame, or are Bears ready to drag the cryptoverse deeper toward the 50k zone and amplify the fear that’s already in the air?! ☀️ 📊 🌧

Bulls facing the same struggles, the caves of goblins and Gollum are slippery… Without bigger changes if any at all, a dance and battle around the weekly 200EMA at 68.4k… If Bulls lose it again and it flips into resistance, it practically confirms a move toward the 50k zone around the 3month 21SMA at 55.4k, with another wick below the monthly 55EMA at 63k. However, in that same zone Bulls should get their 5 minutes and a chance for a positive reaction, at least some kind of bear market rally. Ideally for the Bulls is to get a reclaim of the daily 21SMA at 68.6k and a successful daily close above Previous Week High (PWH) 70.4k which very likely leads BTC into a retest of January Low 75.4k and April low '25 74.4k and potentially a kiss of the daily 55EMA at 78.2k which will move closer to the mentioned levels through the week. Anything less than that does not work for the Bulls… Any successful close below Previous Week Low (PWL) 65.6k brings February Low 60.1k into question. 🌈 🦩 🗽

On the Bears’ side also no major changes… Ideally, Bears need any daily close below the February low 60.1k to confirm a new Lower Low and likely push BTC into the 50k zone around 52k/55k. For that scenario, Bears want BTC to remain below the daily 21SMA 68.4k and secure a daily close below PWL 65.6k, which would likely renew selling pressure and send BTC to test the fragile February low 60.1k as the key short term downside pivot. 🥶 💩 ⛔️