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Crypto

Bitcoin Reaches Weekly Support Zone Amid Selling Pressure

Guavy AI Editorial Team
Instruments
BTC
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After several weeks of heavy selling pressure, Bitcoin has finally reached its first major weekly support zone. The decline was driven by institutional distribution and concerns over MicroStrategy's potential selling activity.

The support zone is a crucial level for the price to hold. If it does, we could see a recovery toward the liquidity zones around 65K and 67K. A successful breakout above these levels would open the way for the next bullish targets at 75K and 80K.

The overall structure of Bitcoin's chart remains intact, with all eyes on how price reacts at this key weekly support level.

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