Bitcoin's long-term bull trend is still alive, but it's hanging on one key support level after a bullish chart pattern broke down.

• A bullish "W" pattern on Bitcoin's weekly chart has failed, which is a bad sign short-term.
• Despite that, Bitcoin is still holding above a key long-term trend support line, keeping the bigger bull market structure intact for now.
• If that support breaks, the next stops down are lower levels, with further downside possible after that.
• Large leveraged trades on Bitcoin, Ethereum, and Monero are currently sitting in profit, showing continued risk appetite in crypto markets, though altcoin trading in general is flagged as extremely high risk and not suitable for most traders.

Outlook: Bitcoin needs to hold its current support on a weekly basis to keep the bull market alive; losing it would open the door to a deeper drop.

## Bitcoin Levels

• **Bias:** Cautiously bullish, contingent on key support holding
• **Buy / accumulate:** $76,000 (noted as a prior entry zone)
• **Support:** $76,000 (weekly EMA ribbon support, must hold on weekly close)
• **Targets:** Downside targets if support breaks: $72,000, then $66,000
• **Invalidation:** A weekly close below $76,000