I’m struggling to maintain my bullishness lately — not because of Friday’s crash, but because, regardless of what timeframe I analyze, I just can’t find a convincing bullish bias anymore.

On the weekly chart, the structure looks increasingly fragile. After breaking above the 108k zone in mid-summer, Bitcoin pushed to a new ATH around 125k, then pulled back to retest the broken resistance. That was fine — a normal retest within a healthy uptrend. But what followed wasn’t.

The price made a new, but very anemic all-time high, showing a clear lack of momentum, and then dropped again to the same support area. Even if this drop was provoked, the fact that BTC returned so quickly to that zone makes me question the strength of any potential reversal.

From a technical standpoint, if we ignore the reasons and look only at the chart, the last 3.5 months resemble more of a distribution phase rather than a solid consolidation before another leg up.

If Bitcoin breaks below the 108k support, the next logical target sits around 100k. But considering the long-term structure I’ve shown on the weekly chart, I wouldn’t be surprised to see a deeper correction toward 90k.

The bulls are still in the game, but they’re losing ground — and unless BTC shows strength soon, the market might be preparing for another leg down before any sustainable recovery