
The current weekly chart for BTC CME Bitcoin Futures shows a market in a corrective phase after a significant rally earlier in the year. Price action is characterized by large bars and fast momentum, indicating heightened volatility and strong directional moves. The short-term (WSFG) and intermediate-term (MSFG) trends are both down, as confirmed by the swing pivot trends and the majority of benchmark moving averages, which are also trending lower. The price is currently below key NTZ/F0% levels on both the weekly and yearly session grids, reinforcing the bearish bias in the short and intermediate timeframes. Support levels are clustered around 80,065 and 69,126, with resistance overhead at 93,076 and 104,349. The most recent swing low at 80,065 is a critical support to watch, while the next major pivot high at 128,155 marks a significant resistance. Despite the recent long trade signals, the prevailing trend context remains corrective, with the market potentially in a retracement or consolidation phase after a strong prior uptrend. The long-term outlook is more neutral, as the 100 and 200 week moving averages are still in uptrends, suggesting the broader bull cycle may not be fully negated. Overall, the chart reflects a market in transition, with short- and intermediate-term weakness dominating, but with long-term structure still intact. Traders are likely to see continued volatility, with potential for further downside tests of support before any sustained recovery or trend reversal.