As of May 22, 2026, IBIT (iShares Bitcoin Trust) is in a bottoming attempt state on the weekly chart, with a confidence level of 63%. Key support is at $38.0 and key resistance at $47.5. Weekly bounce from a sharp selloff low (~$36-$38) but price ($42.96) is still below the key medium/long MAs (EMA50/EMA100 and SMA50/100/200); last weeks show a modest pullback after a rebound, RSI ~43.8.
Base-building continues: price holds $38 area, then grinds up to retest the MA cluster (EMA20 then EMA100) where supply likely shows; this is a typical Wave (B)/(2) rebound after an impulsive selloff, with chop before a clearer trend resumes.
Downtrend resumes: rebound fails at the MA band ($44-$48), then price rolls over and revisits the prior low; if $38 breaks, a deeper capitulation leg (Wave (C)/(3)) becomes likely.
Weekly close back above EMA20 (~$44.47) and then holding above EMA100 (~$47.48) for 2+ weekly closes
Weekly close below the swing low support at ~$36.00
Accumulation zones are aligned with the rebound base/swing-low region (~$38) and then lower support if $38 fails; favor scaling only while volatility is high and price remains below the MA supply band.
Trim into prior distribution/overhead supply and major MA reclaims: first near the SMA50/previous congestion (~$53-$56), then into the former highs zone (~$60-$66) and extreme stretch near the prior peak (~$68-$72).
As of May 22, 2026, IBIT (iShares Bitcoin Trust) is in a bottoming attempt state on the weekly chart with 63% confidence. Weekly bounce from a sharp selloff low (~$36-$38) but price ($42.96) is still below the key medium/long MAs (EMA50/EMA100 and SMA50/100/200); last weeks show a modest pullback after a rebound, RSI ~43.8.
On the weekly timeframe, IBIT has key support at $38.0 and key resistance at $47.5. The most likely scenario (bullish) targets $44.5 and $48.5, with a revert level at $41.5.
IBIT (iShares Bitcoin Trust) is currently classified as bottoming attempt on the weekly chart, with 63% confidence. Confirmation requires: Weekly close back above EMA20 (~$44.47) and then holding above EMA100 (~$47.48) for 2+ weekly closes This would be invalidated by: Weekly close below the swing low support at ~$36.00
The most likely scenario (bullish) targets $44.5 and $48.5, with a revert level at $41.5. The alternative scenario (bearish) targets $38.0 and $34.0.
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