Bitcoin Weekly Outlook – Possible Pullback to $98K Midline

Bitcoin is still moving inside its long-term ascending channel. After testing the upper boundary near $120K+, the price showed rejection and is now heading lower.

📊 Key Observations:
• BTC has respected this parallel channel since early 2023.
• The rejection from the upper boundary suggests a healthy correction inside the trend.
• The most logical target for this pullback is the channel’s midline (~$98K).
• As long as BTC holds above this level, the broader uptrend remains intact.

⚡ Conclusion: A controlled correction to ~$98K should not be seen as a bearish reversal, but rather as a structural retest within the bigger bullish channel. A weekly close below $98K, however, could open the way for a deeper correction toward $85K.