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$BTC has been struggling for the past 6 weeks to break this $119,500 Weekly level.
Very bearish candle structure here after PPI release, but one could argue, the more times we knock on resistance, the more likely we break it.
Weekly stochastic paints a difference picture. Posturing to the downside with a weekly pivot level of $123.5k. That means it continues to the downside if the weekly close is below this price next week.
Think of stochastic as a momentum indicator allowing you to determine bias across different timeframes.