BTC Weekly Technical Analysis
Bitcoin
The first and largest cryptocurrency, created as decentralized digital money with a capped supply of 21 million coins.
BTC Technical Analysis Summary
Bitcoin is in a confirmed weekly downtrend, having broken down from a major topping structure near 130k. Momentum indicators are firmly bearish, with the price currently falling below key moving averages and approaching the 200-week SMA support around 58k. While the RSI is approaching oversold territory, suggesting a potential pause, the prevailing technical structure remains negative.
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BTC Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
Price is trading below the 20-week and 50-week SMAs with strong downside momentum. The MACD histogram is negative and expanding, and the RSI is downtrending near oversold levels.
Long-term Sentiment (weeks to months): Bearish
The chart shows a major structural reversal from highs around 130k. Price has lost the 50-week SMA trend support and is trending toward the 200-week SMA. The sequence of lower highs and lower lows confirms a long-term downtrend.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-02-02T07:24:07.518Z
- Model: gemini-3-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $70,500.00 | $70,000.00 - $71,000.00 | Weak | Aligns with the current lower Bollinger Band (70,522) and historical consolidation zones. |
| $59,000.00 | $58,000.00 - $60,000.00 | Strong | Confluence of the 200-week SMA (58,114) and major psychological support. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $98,250.00 | $96,000.00 - $100,500.00 | Strong | Significant resistance cluster containing the 20-week SMA (96,574) and 50-week SMA (100,370). |
| $122,500.00 | $120,000.00 - $125,000.00 | Strong | Previous major distribution zone and structural highs before the breakdown. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Head and Shoulders Top | Bearish | N/A | A large topping formation visible across 2024-2025 with a head around 130k, which has broken down, initiating the current sharp decline. |
| Strong | Bearish Trend | Bearish | $58,000.00 | Consistent series of lower highs and lower lows on the weekly timeframe, confirmed by the bearish alignment of the MACD. |
Frequently Asked Questions about BTC
What is the current sentiment for BTC?
The short-term sentiment for BTC is currently Bearish because Price is trading below the 20-week and 50-week SMAs with strong downside momentum. The MACD histogram is negative and expanding, and the RSI is downtrending near oversold levels.. The long-term trend is classified as Bearish.
What are the key support levels for BTC?
StockDips.AI has identified key support levels for BTC at $70,500.00 and $59,000.00. These levels may represent potential accumulation zones where buying interest could emerge.
Is BTC in a significant dip or a Value Dip right now?
BTC has a Value Score of 117/100. It is not currently flagged as a significant dip in the Top Dips list. It is not listed as a Value Dip because the long-term sentiment or value-score threshold does not qualify.
View the full interactive analysis on StockDips.AI.