Bitcoin (BTC) is showing signs of weakness as bearish momentum takes over the market, putting short-term pressure on its price. The asset is under close watch by investors as technical indicators indicate potential volatility in the coming days.
At the time of writing, Bitcoin is trading at $67,509, with a 24-hour trading volume of $42.99 billion and a market capitalization of $1.35 trillion, according to CoinMarketCap. Over the last 24 hours, BTC has declined 0.50%, reflecting ongoing selling activity across major exchanges.
Weekly Golden Cross Boosts Bitcoin
On February 17, 2026, prominent crypto analyst BATMAN pointed out that Bitcoin recently saw a golden cross on its weekly chart. In the past six months, this type of stochastic golden cross occurred only twice.
In both cases, the price increased by 15–21%. Even though this is not a guarantee of a big run, it is positive for investors hoping for a short-term bounce.
Technical Indicators Point to Weakness
On Bitcoin’s weekly chart, there is bearish momentum that is ongoing. The Relative Strength Index (RSI) is at 27.64, which is below the average line of 36.44, showing that Bitcoin is close to being oversold.
The BTC is trading below its MA ribbon. The major averages include the 20 SMA at $99,478.63, the 50 SMA at $91,300.15, the 100 SMA at $87,409.71, and the 200 SMA at $58,370.96.
The MACD line is still negative: -2,847.19, -5,923.89, -8,771.08. Analysts predict that the price of BTC could fall even lower in the coming days. However, areas of support could prevent the market from collapsing completely.
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Bitcoin Eyes Short-Term Bounce
Despite the bearish indicators, the recent golden cross provides an opportunity to bounce back slightly. Levels around $65,000 to $66,000 are historically associated with short-term bounces. The trend is in favor of sellers, but careful buyers can benefit from an increase in buying activity.
Overall, Bitcoin is still facing pressure, and market observers are advised to be cautious as there are chances that the momentum could change anytime. There could be a buying or selling spree that could impact the price of BTC.
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