BTC Weekly Technical Analysis by Mako Sharks

Bitcoin kicks off its week at 70.7k! The war saga continues, and it’s still unclear who’s drinking and who’s paying! With negotiations between Iran and the Orange man expectedly falling apart right before the weekly close, Bulls are now fighting for acceptance of the daily 55EMA after a brief break above it… Can Bulls show those horns, hold above the weekly 200EMA, and potentially kick off an early bear market rally toward the 80k zone?! Or will they once again fall short right when it matters most, giving Bears a clean path into another capitulation and dragging BTC back toward the 50k zone!? With the geopolitical situation still hanging in the air, markets are reluctant to commit to any strong directional move and are instead opting to consolidate and stay range bound. ☀️ 🥊 🌩

Big week and a test for the Bulls! Right before the weekly close, after printing the Previous Week High (PWH) 73.8k, Bulls once again lose momentum and drop into a challenge of the daily 55EMA 71k going into Sunday! Ideal for Bulls is to find acceptance at the daily 55EMA 71k followed by any successful daily close above the PWH 73.8k, which opens the door for a challenge of the March high 76k & January low 75.6k, which act as the main obstacle for expansion toward the weekly 21SMA 78.1k & daily 200EMA 83.1k. It remains crucial for Bulls to defend the February low 60.1k, and from a defensive standpoint, it is ideal to stay above the weekly 200EMA 68.2k & daily 21SMA 69.2k on a basis of daily closes!⚡️ 🐂 ⚡️

Read More: Best Cryptocurrency Exchange Apps of 2026

While everyone is on edge, Bears are the only ones benefiting from this geopolitical tension and hostility, as all markets are under pressure because of the uncertainty! For Bears, the ideal scenario is for BTC to lose the daily 21SMA 69.2k and weekly 200EMA 68.2k as support which would almost certainly send it down to test the February low at 60.1k. That level doesn’t have strong chances of holding and remains the Bears’ primary target. Losing those two key supports would confirm weakness, and if we then see a daily close below the Previous Week Low (PWL) at 67.7k, Bulls will be on very thin ice. A break below 60.1k would very likely open the door to the mid 50k zone with potential to wick out higher 40k zone. 🫣 🤩 💀