Bitcoin (Weekly)Bitcoin / US DollarCOINBASE:BTCUSDttvtradesOn the weekly chart, bitcoin looks to have reached a major support level. Here are is why I believe so: 1. Using the Fibonacci Retracement from the 2022 low/2025 high, we see bitcoin beginning (not yet confirmed) to bottom out at around $60,200. 2. If we look back at 2024, we see that $58K - $62K was a range that was established for weeks. 3. The $58K - $62K range formed consolidation, allowing smart money to accumulate at lower prices for months. 4. According to the Fibonacci, $60,200 serves as a major support zone. 5. The stochastic rsi is beginning to head into oversold territory. I would not be surprised to see Bitcoin respect this support level and serve as another period of consolidation as investors face uncertainty in the market. I can see bitcoin ranging for the duration of the summer, and perhaps, experiencing a fall melt up in tandem with Midterms. -ttvtrades