$BTC Weekly Chart Analysis:

Bitcoin is currently trading near $59,000 and has managed to maintain this critical level, which now acts as strong resistance after several attempts to break through it.

▫️Key Levels:

1. Strong Resistance at $59,000:

• If Bitcoin can break through this level decisively and close above it on a weekly basis, it could initiate a strong upward wave toward higher targets.

2. Upside Targets After Breaking $59,000:

• The next targets would be around $70,130 and $73,485, where there are large amounts of short liquidation zones.

• These areas could provide additional momentum if reached, driving Bitcoin further up.

3. Technical Indicators:

• The Stochastic Oscillator shows that the market is in an oversold region, supporting the likelihood of a bullish reversal.

▫️Probability Breakdown:

• Upside Probability: 70%

• If the price breaks the resistance at $59,000 and closes above it, there is a significant chance of seeing a bullish move towards $70,000 and beyond.

• Downside Probability: 30%

• If the price fails to break $59,000, it may experience a slight downward correction, but as long as it remains above the current support level, the decline will be limited.

▫️Summary:

Bitcoin is at a critical juncture. If it manages to break through $59,000, the bullish scenario will become stronger, with key targets between $70,000 and $73,000.