Bitcoin is showing a potential downside towards $24500

Bitcoin has experienced a bearish sentiment following a short-term rally. By analyzing the weekly timeframe, we can observe that the price has already confirmed a significant breakout on the recent support. Furthermore, there is a potential for further downside momentum, possibly leading to a revisit of the trend line and key level formed on the weekly timeframe, which is expected to be around $24,500 and near the 50% Fibonacci retracement level. Once the price reaches this expected level, there is a possibility of a bounce or buyback as the key level and trend line may act as support. It is important to closely monitor the price action and market dynamics to assess the strength and duration of any potential bounce or buyback.