Bitcoin repeatedly tests the yellow trend line on the weekly chart, and breaking through this barrier is indeed challenging. The current price is in a long-term consolidation phase, mainly because the momentum on the weekly chart has significantly weakened. The previously identified green resistance level still constitutes short-term resistance — interestingly, for the past 7 consecutive trading days, every time the price touched this line, it immediately pulled back, indicating that the buying side's support here is limited. Whether the price can effectively break through these two key levels in the future will determine the direction of the market.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
15 Likes
Reward
15
7
Repost
Share
Comment
0/400
ColdWalletGuardian
· 12h ago
Is the yellow line that hard? It hasn't broken in 7 days... The bulls really have no strength left.
View OriginalReply0
PositionPhobia
· 12h ago
Still testing the waters repeatedly on the yellow line, endless. Are the bulls getting cold feet?
View OriginalReply0
DarkPoolWatcher
· 12h ago
The green support level has been stuck for 7 days, the bulls' move seems a bit weak.
View OriginalReply0
GasBankrupter
· 12h ago
You're just repeatedly pulling at the yellow line again, making me so sleepy.
View OriginalReply0
AllInAlice
· 12h ago
The green support level has been stuck for over a week, and it's impossible to hold a long position.
View OriginalReply0
BrokenDAO
· 12h ago
7 days of pullbacks, what does this indicate? It means the bulls are out of strength here. A balance of power has already been established; if it can't be broken, then it has to be endured and continued.
View OriginalReply0
CryingOldWallet
· 12h ago
Still testing there repeatedly, when will there be a real breakthrough?
---
7 days of continuous pullback, the bullish side is really too weak...
---
The green resistance level is so strong, feels like it will range sideways forever
---
Weakened momentum means it's accumulating strength, the breakout day will probably be very fierce
---
The wait for the breakout is a bit long, I'm almost falling asleep
---
Can't hold both lines? Then just keep watching the show
---
Always getting proven wrong here, the retail investors are about to get cut again
---
Sounds good, but still don't know the next move
---
When will this wave of consolidation come to an end?
Bitcoin repeatedly tests the yellow trend line on the weekly chart, and breaking through this barrier is indeed challenging. The current price is in a long-term consolidation phase, mainly because the momentum on the weekly chart has significantly weakened. The previously identified green resistance level still constitutes short-term resistance — interestingly, for the past 7 consecutive trading days, every time the price touched this line, it immediately pulled back, indicating that the buying side's support here is limited. Whether the price can effectively break through these two key levels in the future will determine the direction of the market.