$BTC Technical Analysis Summary (as of July 02, 2026)
Based on the weekly chart, $BTC is trading at $60848.15, up $95.52 (+0.16%) with a bid/ask spread of $60848.15/$60856.70.
$BTC experienced a powerful parabolic bull run from 2023 into 2025, reaching above $120,000, followed by a sharp and sustained corrective decline.
On the weekly timeframe, price has broken below multiple key moving averages with a series of strong red candles, confirming a bearish trend.
The recent modest green candle shows some short-term stabilization, but the broader structure remains under pressure.
Support levels are at $62196.03, $60848.15, $56742.27, $40000.00, and $29957.50 with resistance near $68294.99, $68392.96, and $88448.68.
The RSI (14) at 33.85 suggests oversold conditions with potential for a relief bounce.
Monitor for a breakout above $68294.99 for continued upside or a sustained drop below $56742.27 for further downside pressure.
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Not investment advice. The author may have financial interests in the mentioned instruments.
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Sat Aug 08 2026 01:42:25 GMT+0000 (Coordinated Universal Time)
