Bitcoin remains under strong bearish pressure as price continues to trade inside a descending channel. The recent rejection from the highlighted supply zone confirms that sellers are defending higher prices, while the 200 EMA continues to act as dynamic resistance.
The market failed to establish a bullish reversal and is now approaching the lower boundary of the channel. A decisive break below the current support area could trigger another wave of selling, opening the path toward the projected support target near 56,000.
As long as BTC remains below the supply zone and channel resistance, the bearish structure stays intact. Traders should monitor price action for confirmation of a breakdown or a potential rejection from resistance before entering positions.
🎯 Technical Outlook:
* 🔻 Descending Channel Structure
* 🟥 Supply Zone Acting as Resistance
* 📉 Bearish Momentum Dominating
* 🎯 Downside Target: 56,000
* 📊 Bias: Bearish below 61,500 resistance
The market failed to establish a bullish reversal and is now approaching the lower boundary of the channel. A decisive break below the current support area could trigger another wave of selling, opening the path toward the projected support target near 56,000.
As long as BTC remains below the supply zone and channel resistance, the bearish structure stays intact. Traders should monitor price action for confirmation of a breakdown or a potential rejection from resistance before entering positions.
🎯 Technical Outlook:
* 🔻 Descending Channel Structure
* 🟥 Supply Zone Acting as Resistance
* 📉 Bearish Momentum Dominating
* 🎯 Downside Target: 56,000
* 📊 Bias: Bearish below 61,500 resistance
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Forex, Gold & Crypto Signals with detailed analysis & get consistent results.
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Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.