Bitcoin traded near $86,448 on the weekly chart, with resistance capping price gains and technical indicators pointing to a deeper corrective phase. The chart outlines prior resistance rejections and mapped downside targets.
The TradingView chart shared by CryptoPatel shows Bitcoin failing at a highlighted resistance zone above $100,000. As a result, the price reversed toward a marked support near $78,000.
At the same time, the chart projects a measured downside move of about $75,378, representing a potential 70% decline. This projection places a key support zone near $31,925. The chart annotation questions whether Bitcoin has any chance of dropping below $50,000. That prompt frames the technical setup shown across multiple market cycles.
The chart compares two major Bitcoin cycles using weekly candles. In the earlier cycle, Bitcoin rejected a resistance zone before a sharp decline toward a long-term support band. That earlier drop measured about 70.41%, with the price falling roughly $36,859 from resistance. The chart marks that move with a vertical red projection into a green support zone.
In the current cycle, Bitcoin again rejected a resistance area near recent highs. The structure mirrors the earlier pattern, with a similar projected downside magnitude.
The resistance label appears near the $100,000 to $120,000 range. Price failed to sustain above that zone before reversing lower on the weekly timeframe.
The chart highlights a major horizontal support line near $78,000. This level previously acted as a base during consolidation phases. Below that area, the chart marks a broader support zone extending toward $31,925. That region aligns with the projected 70.16% downside move.
The projected move spans about 148 weekly bars in the earlier cycle. Volume data of 13.32 million appears alongside that historical decline.
In the current projection, the downside path extends into 2026. The chart labels the lower region as “Support,” indicating where buyers previously defended the price.
Also Read: Bitcoin Price at $86,728, Ethereum Drops 3.25%, Solana Slides to $123
The chart text states that Bitcoin “has no chance to go under $50K” and then challenges that view. It urges traders to respect the chart rather than personal bias.
The technical structure presents resistance rejection, support testing, and a measured move projection. These elements together frame the ongoing market debate.
Will Bitcoin’s current support structure prevent a repeat of the prior 70% decline cycle?
The Bitcoin weekly chart shows repeated resistance failures near recent highs and outlines clear downside risk toward the $31,925 support zone. With past cycles illustrating similar declines, the structure urges close attention to key support levels and disciplined chart-based analysis.
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