Bitcoin Dips Below $69K Support Again: Emerging Breakout Pattern Signals Reversal? – BTC TA February 16, 2026
Source: TradingView
Zooming out into the weekly time frame, and keeping the same indicators, it can be seen that the $BTC price is managing to hold the major support. The two previous weekly candles both shot wicks down below, but the candle bodies closed above (the last candle close was thereabouts).
It’s a possibility that the price does break down further, and we can see there are good support levels at $65,000 and $60,000. The $53,000 support is drawn in because it is also the measured move out of the bear flag (in purple).
While the Stochastic RSI indicators are bottoming nicely again ready for a potential cross back up, the MACD indicators in this time frame are still heading down. In fact, they are at their lowest levels ever – could this be a sound reason for a turnaround from here? The latest histogram bar has turned pink, so perhaps this indicator is on its way back to a bullish green colour?
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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