Bitcoin Technical Analysis: Weekly Structure at a Critical Juncture

Bitcoin's weekly chart shows a textbook ascending triangle pattern, with price compressing between the $68,000–$70,000 resistance zone and a series of higher lows dating back to the January low. Key levels: • Resistance: $69,000 (2021 ATH retest zone), $72,000 (recent ATH), $80,000 (measured move target) • Support: $63,000 (ascending trendline), $60,000 (major psychological + demand zone), $55,000 (weekly structure low) On-chain picture reinforces the bullish structure: long-term holder supply rising, exchange reserves declining, and hash rate near all-time highs. However, short-term futures funding rates are elevated — a sign of retail overleveraging that often precedes short-term corrections. Base case: BTC consolidates 63k–70k for 2–4 more weeks before a decisive breakout or breakdown. Are you positioned for a BTC breakout above $70,000?