Bitcoin's weekly chart shows a pronounced bearish structure following the failed assault on the all-time high near $109,000. Price currently sits at $65,814, trading below all four major moving averages: MA(10) ~$77,800, MA(20) ~$87,000, MA(30) ~$94,500, and critically, the MA(200) at ~$77,000. This is a textbook death cross scenario where shorter-term averages have crossed decisively below the 200-week MA. The moving averages are now fanning downward in bearish alignment, and price has violated the multi-year MA(200) support that held throughout the 2024 bull run. Immediate resistance clusters around $70,000-$72,000, while support sits near the psychological $60,000 level. The weekly candle structure shows a series of lower highs and lower lows since December, confirming downtrend momentum.

Volume analysis reveals inconsistent conviction during the decline. While the initial breakdown from $109,000 saw elevated volume spikes, recent weeks display moderate and declining volume—suggesting exhaustion but not yet capitulation. The latest weekly bar shows slightly elevated volume near $65,000, hinting at potential buying interest at this level, though insufficient to confirm a reversal. Contrast this with the massive volume spike visible on the far right of the volume panel in early 2025, which accompanied the initial breakdown.

Momentum indicators paint a uniformly bearish picture. The Long-term PPO(21,34,0) has plunged deeply negative to approximately -11.74, its lowest reading since the 2022 bear market, with no signs of flattening or positive divergence. The Short-term PPO(5,13,0) sits at -2.68, also negative but showing a slight uptick from its recent extreme, suggesting the most acute selling pressure may be easing. StochRSI(14) is pinned near zero (approximately 0.08), reflecting severe oversold conditions but not yet curling upward. The Full Stochastic shows %K and %D both in deeply oversold territory below 20, with %K at roughly 18 and %D at 16—both lines remain parallel and haven't crossed bullishly. CCI(20) reads approximately -185, well below the -100 oversold threshold, indicating extreme bearish momentum but with potential for mean reversion bounce.