Bitcoin has broken sharply below the MA(200) around $103,840, confirming a weekly death cross and marking a transition to a bearish intermediate-term structure. Current price at $67,137 sits well beneath all four moving averages — MA(10), MA(20), MA(30), and MA(200) — with the shorter averages fanning downward in bearish alignment. The weekly candles show sustained selling pressure with lower highs and lower lows since the December 2024 peak near $108,500. Immediate resistance now lies at the MA(30) around $92,000, while support clusters near $60,000 where prior consolidation occurred. The steep departure from the MA(200) suggests oversold conditions on a longer time frame, though no clear reversal pattern has formed yet.

Volume analysis reveals elevated selling activity throughout the decline, with the most recent weeks showing above-average volume bars that confirm the breakdown's legitimacy. Weekly volume spiked during the initial breach of $100,000 and remained elevated through subsequent legs lower, indicating genuine distribution rather than a liquidity-driven flush. This persistent volume on down-weeks reinforces bearish conviction and suggests the move is not yet exhausted from a participation standpoint.

The Long-term PPO(21,34,0) has rolled decisively negative around -11.5, its lowest reading since late 2023, and continues to trend downward with no sign of a bullish crossover. This deep negative reading reflects severe momentum loss on a multi-month basis. The Short-term PPO(5,13,0) is also negative near -11.9 and trending lower, indicating even the near-term momentum structure remains weak. Both PPOs in negative territory and declining simultaneously represent a strong bearish momentum regime with no imminent reversal signals visible.

StochRSI(14) sits near 0.0, deeply oversold for multiple weeks, suggesting a tactical bounce may be due but not yet confirming one has begun. Full Stochastic %K(14,3) reads approximately 10.0 with %D near 17.0, both well below the 20 oversold threshold and with %K having crossed below %D in recent weeks. This configuration typically precedes a relief rally, though the lack of bullish crossover keeps the immediate bias neutral to down. CCI(20) remains below -100 around -185, firmly in oversold territory for several weeks, reinforcing that price has been in a persistent downtrend. The extended oversold readings across StochRSI, Full Stochastic, and CCI suggest downside momentum may be nearing exhaustion, but until these oscillators turn up and generate bullish crossovers, the dominant trend remains bearish.