The current consolidation period suggests a strong bear market top, with resistance levels holding and technical indicators pointing to continued bearishness.
Selling pressure outweighs buying interest and volume is declining, indicating that bears have full control of the market at this level.
As a result, it seems likely that Bitcoin will continue to trend downwards, potentially retesting or breaking through key support levels in the coming weeks and months.
Selling pressure outweighs buying interest and volume is declining, indicating that bears have full control of the market at this level.
As a result, it seems likely that Bitcoin will continue to trend downwards, potentially retesting or breaking through key support levels in the coming weeks and months.