Bitcoin Weekly Swing Analysis: Cycle Position and Price Targets

Weekly BTC swing analysis for the current market phase: **Cycle position:** We're approximately 8 weeks post the April 2024 halving. Historically, the 8–18 week post-halving period is characterized by choppy consolidation before the bull market acceleration begins. This matches current price action — BTC has been ranging $58,000–$72,000 for 3 months. **Weekly chart technical picture:** - Support: $58,000 (rising weekly trendline + demand zone), $54,000 (critical cycle support) - Resistance: $71,000 (range top, ATH area), $80,000 (next measured move target) - Weekly RSI: 55 — momentum positive but not exhausted - Weekly Bollinger Bands: Tightening = compression before expansion **On-chain swing context:** - Long-term holders adding: bullish - Exchange reserves declining: less supply available to sell - ETF inflows positive but decelerating: watch for any reversal **Swing targets:** Conservative TP1: $72,000 (ATH break) Aggressive TP2: $85,000–$90,000 (post-ATH acceleration target) Stop: Weekly close below $57,000 Are you positioned for the BTC breakout above ATH, or are you waiting for deeper confirmation?