Peter Smith
⬤ Bitcoin hasn't moved much over the past week, staying locked in a tight range that looks more like healthy consolidation than any real trouble. The weekly chart shows BTC still sitting comfortably above its main formation resistance, which means the bigger bullish picture is still working. Right now, the price is just digesting recent gains rather than breaking down.
⬤ Looking at the technicals, Bitcoin is holding above a rising long-term trendline while hovering around the mid-$80,000 zone. This pause makes sense after the previous run-up. The chart shows clear resistance levels ahead at $107,300, $123,450, and $143,300, with the broader formation pointing all the way up to $200,000.
⬤ The sideways action we're seeing isn't distribution—it's consolidation. There's nothing on the chart suggesting the trend is breaking or invalidating. Bitcoin is just stabilizing above key support while absorbing the earlier move, which is exactly what healthy markets do before the next leg.
⬤ This matters for the entire crypto market since Bitcoin drives the overall structure. While BTC holds its main trend, short-term moves are hitting altcoins harder. Watching Bitcoin dominance and total market cap during this consolidation phase stays important. As long as the path toward $200,000 remains structurally sound, there's no real weakness showing up in the broader market picture.
Peter Smith
