FX.co ★ Jackroay | #Bitcoin chart analysis

I begin my Bitcoin forecast from the weekly timeframe, where I clearly observe how price action once respected a long-standing ascending channel that guided the market from late 2022 into early 2026. I see how Bitcoin expanded confidently within this structure until a local high near 126,000 marked the exhaustion of bullish momentum. I note that the subsequent rollover was technically meaningful because the price not only declined but decisively broke the lower boundary of that multi-year ascending channel around 90,000. I interpret this break as a structural shift rather than a simple correction within an uptrend. I follow the continuation of the decline toward the 60,000 region, where a new local low was formed and where sellers clearly demonstrated dominance. I observe that the current price around 69,000 still reflects a market trading under pressure, and I read this as a phase where participants are reassessing value after the euphoric rally. I consider how sentiment cooled after the failure to hold above six figures, and I recognize how disappointment and profit-taking combined to accelerate the fall. I pay attention to the broken 67,349 support and I understand how any sustained move below it could trigger renewed liquidation. I also factor in the broader narrative and I acknowledge how political expectations and macro sentiment have influenced speculative positioning. I remain cautious but analytical, and I continue to treat the 60,000–55,000 region as a magnet for liquidity if bearish momentum strengthens again.

I shift my focus to the four-hour timeframe, where I maintain a well-defined descending equidistant channel that has governed recent price behavior from the 98,000 local high. I see how Bitcoin is currently reacting near the resistance line of this channel, and I interpret this as a location where sellers naturally attempt to reassert control. I identify the recent movement from the lower boundary as the first corrective impulse, and I view the current consolidation as the second corrective phase within this structure. I expect that a third corrective wave could lift price toward the horizontal resistance around 79,000, and I consider this a technically justified rebound rather than a trend reversal. I watch the 68,750 level, corresponding to the bottom of the 3/8 channel, and I recognize how actively bulls are defending this area. I add the bounce from the lower boundary of the Ichimoku Cloud to my bullish checklist, and I treat it as a supportive signal for a short-term rise. I anticipate a possible move toward 75,000 as an immediate objective, and I prepare for price to rotate within the wide corridor between 68,750 and 75,000 if momentum slows. I still expect a corrective dip toward the 66,500 breakout zone to clear clustered stop-loss orders, and I plan to look for buying opportunities there for a medium-term corrective advance.