Don't miss this article !Bitcoin / TetherUSBINANCE:BTCUSDTmohammadhassanli📊 Bitcoin (BTC/USDT) – Long-Term Technical Analysis (Weekly Chart) This weekly chart presents a macro view of Bitcoin’s long-term bullish channel, spanning from 2016 to 2030. The price action is contained within a well-respected ascending parallel channel, showing consistent higher highs and higher lows over multiple cycles. 1️⃣ Macro Structure Bitcoin has remained inside a major ascending channel for nearly a decade. The midline (dashed) has acted as dynamic support/resistance across multiple bull and bear cycles. The upper boundary of the channel has repeatedly capped bull-market blow-off tops. The lower boundary has been a reliable bottoming zone during bear markets. This channel continues to define Bitcoin's long-term bull trend. 2️⃣ Current Market Position (Nov 2025) BTC recently reached the upper channel resistance (~124k) and faced rejection. Price has now pulled back sharply by over 8% this week, trading around $95,966. This correction places Bitcoin back near the 0.5 Fibonacci retracement (≈ $96,060) drawn from the recent swing low to the recent peak. The market is currently testing this important mid-level support. 3️⃣ Key Support Levels This Fib Ret starts from the beginning of uptrend after completing the cup and handle pattern . ✔ 0.5 Fib – $96,000 area This area is currently acting as immediate support. Historically, BTC often stabilizes around the 0.5 Fib during bull-cycle corrections. ✔ 0.618 Fib – $89,400 A deeper but healthy retracement within a bullish structure. Confluence with a previous consolidation zone. High-probability re-accumulation level. ✔ Major Channel Support – $68,000–70,000 This is the cycle-saving support zone. If the market experiences a severe correction, this level would be a historically strong bottoming area. 4️⃣ Key Resistance Levels ✔ Local Resistance – $98,000–100,000 Previous structure support now turned into resistance. Bulls must reclaim this level to resume upward momentum. ✔ Major Resistance – $124,000 Cycle top region based on the channel. BTC was rejected strongly here recently. 5️⃣ Market Outlook Bullish Scenario If BTC holds the $96k support or stabilizes above the $89k 0.618 level, the structure remains strongly bullish. A rebound here could lead to: Retesting $100k Breakout attempt toward $124k New macro highs if channel top breaks The long-term channel suggests an eventual move toward $150k+ if momentum continues. Bearish Scenario If BTC loses $89k, especially on weekly closes: Price likely gravitates toward the mid-channel zone around $70k. This would be a deeper but still healthy correction inside the multi-year bull trend. No major structural damage occurs unless Bitcoin loses the lower channel (~$60k). 6️⃣ Summary Bitcoin remains in a macro uptrend supported by a decade-long ascending channel. The current correction is consistent with previous bull-cycle retracements. Key support levels at $96k and $89k will determine whether BTC resumes its upward swing or enters a deeper consolidation phase. The long-term outlook remains strongly bullish, provided the channel structure holds.