FX.co ★ #Bitcoin chart analysis

Trading instrument Bitcoin - W1 chart period. The decline that occurred since last autumn was quite understandable and expected. The price almost compensated for all the growth that took place in 2025. Significant technical factors indicated the price decrease - a rising wedge pattern, as well as a large and clear bearish divergence on the MACD indicator. When the price was at its peak, there was also a bearish divergence on the second indicator used, CCI, albeit smaller in size. Initially, the first horizontal support level at 108781 hindered the fall, but I had no doubts that it would not hold. Although it was tested for several weeks with bounces, eventually it was broken and turned into a resistance level at the edge of the uptrend. Then the second level at 98805 was reached, where the higher ascending trendline was also located. This area provided a bounce upwards precisely to the broken resistance level at 108781. There was certainly a possibility that the price would get stuck there for a few weeks and might not even go down. However, the situation was quite tight, with a line at the bottom and a resistance level at the top. Nevertheless, the price immediately started to decline and broke the higher ascending trendline. After a rapid decline, the price got stuck at the bottom and traded sideways for many weeks. It was expected that there would be a test from below of the broken level at 98805, which eventually happened, although it took a while to move towards it. This level, in turn, provided a bounce downwards and a further downward movement, apparently more buyers accumulated, and they were once again pushed down deeper. They are likely preparing to break below last year's low, around the level of 74767. However, it is unlikely to go down smoothly, as this is a strong support area. This could be the starting point for a price recovery and new attempts to rise towards 86268. Additionally, a bullish divergence has formed on the CCI indicator used, and being supported by the existing support zone, it is a fairly good signal for a price increase.