We’re revisiting the Bitcoin chart today as price action hints at upside within the broad sideways range we've seen since early 2025.
But is it just noise… or something more meaningful?
🔎 Zooming out to the weekly chart reveals:
📈 BTC has been in a long-term uptrend channel since 2021
📉 The recent weakness? Likely just a correction
✅ Price held above the 55-week moving average
✅ Price also held above the midpoint of the up channel
What this suggests:
The market is holding key support levels and appears ready to resume its uptrend.
🎯 Near-term target: January 2025 high at $110,150
📌 Bigger picture: A potential breakout above that could take BTC towards the top of the channel – currently near $113,000, and rising monthly.
⏳ Watch for strength and confirmation on the weekly close.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
But is it just noise… or something more meaningful?
🔎 Zooming out to the weekly chart reveals:
📈 BTC has been in a long-term uptrend channel since 2021
📉 The recent weakness? Likely just a correction
✅ Price held above the 55-week moving average
✅ Price also held above the midpoint of the up channel
What this suggests:
The market is holding key support levels and appears ready to resume its uptrend.
🎯 Near-term target: January 2025 high at $110,150
📌 Bigger picture: A potential breakout above that could take BTC towards the top of the channel – currently near $113,000, and rising monthly.
⏳ Watch for strength and confirmation on the weekly close.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
The STA is the oldest technical analysis organisation in the world and to celebrate that fact, we have a free downloadable book on technical analysis here -
technicalanalysts.com
technicalanalysts.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
The STA is the oldest technical analysis organisation in the world and to celebrate that fact, we have a free downloadable book on technical analysis here -
technicalanalysts.com
technicalanalysts.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.