Bitcoin's weekly chart reveals severe technical weakness as price has collapsed below all major moving averages. The current print near $67,095 sits beneath the MA(10) at ~$79,800, MA(20) at ~$88,700, MA(30) at ~$93,400, and critically below the MA(200) at ~$67,900. This represents a death cross formation where shorter-term averages have plunged through the key 200-week MA, confirming a structural breakdown. The moving averages are now in full bearish alignment (MA10 < MA20 < MA30 < MA200) with expanding downside gaps. Recent weeks show heavy selling pressure with long red candles and lower highs, establishing a clear downtrend. Immediate support rests at $64,000–$65,000 from prior consolidation, while resistance faces a massive wall at the MA(200) around $67,900–$68,000.

Volume patterns confirm distribution, with elevated selling volume during the decline from the November 2024 peak near $108,000. Recent weekly bars show consistently higher volume on down moves compared to relief bounces, indicating institutional selling dominates. The spike in late 2024 volume marked the beginning of this corrective phase, and current elevated levels suggest continued profit-taking and liquidations rather than accumulation.

Both PPO indicators signal deep bearish momentum. The long-term PPO (21,34,0) reads approximately -11.4, deep in negative territory and declining sharply from its mid-2024 peak above +10. This extreme negative reading reflects sustained downward momentum on the weekly timeframe. The short-term PPO (5,13,0) has collapsed to roughly -21.4, indicating accelerating short-term selling pressure. No bullish crossovers are present on either PPO, and both continue trending lower, suggesting the weekly downtrend has further to run before exhaustion.

The StochRSI (14) currently sits near 0.08, deeply oversold and hugging the bottom of its range. While this indicates extreme selling pressure and potential for a relief bounce, it has remained pinned in oversold territory for multiple weeks, confirming persistent downside momentum. The Full Stochastic %K(14,3) reads approximately 17.85 with %D at 18.39, both below the oversold 20 threshold. A slight uptick in %K suggests potential for a dead-cat bounce, but no bullish crossover has materialized. The CCI (20) registers around -128, below the -100 oversold level, indicating extreme bearish conditions. The CCI has spent multiple weeks in oversold territory without relief, reflecting relentless selling pressure.