The current weekly chart of Bitcoin (BTC) shows a long downward vertical line, indicating that the market may see a small retracement or a direct upward trend. Technically, the 123 rule pattern appeared in the small time period and broke through the upper track of the right triangle, which is a strong upward signal. In the short term, the key support level is around 62200, but it may not reach that level.

After the accumulation is completed, the market is ready to further pull up. Although it may experience a decline in the process, the overall structure shows the characteristics of oscillating upward. The short-term support level is between 62500 and 62000, and the medium-term pressure level focuses on the range of 65000 to 67000.

This analysis aims to provide a technical perspective on the recent trend of BTC, taking into account possible support and resistance levels, as well as the possible direction of the market. It should be noted that the cryptocurrency market is highly volatile, and it is recommended to consider multiple factors before making a decision.

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