Bitcoin has been holding another MAJOR level of support recently…

Taking a look at Bitcoin’s weekly chart, price has been sitting just barely above the 100 MA for close to two months straight now.

This level, along with the very important 50 EMA on the 2W chart, has been critical support since early November. This indicator truly shows how little room Bitcoin has to move lower. Price is very much on the edge of a cliff right now.

The most concerning part is the lack of a strong bounce or rejection from this level. Usually, you would see a strong increase in volume and a relatively strong bounce when price falls to important levels like this. If anything, volume has slowed down significantly, and there is very little bullish momentum.

The next few weeks of price action are truly do or die. I can’t imagine we will continue to see this much chop moving into Q1 of 2026.

I’m going to keep a very close eye to make sure weekly candles don’t start closing below this level. So far, so good, but we really do need to start bouncing soon if we want to see higher prices 👀