Bitcoin, the technical picture looks terrible

The technical picture on the Bitcoin chart is still in a very weak state.

Locally Bitcoin is in a range between $58K and $33K levels. At the same time, the price tried to close above the key level of $42 thousand and start a new uptrend. It succeeded, but not for long. After the liquidity gap test (strong resistance level), the price closed below the key level again and corrected to the current price levels.

It is also worth noting that the price broke through the second liquidity gap and is now testing it as resistance. Additionally, it is also worth noting that the moving averages are beginning to narrow between themselves. This is a bad signal.

With a high probability, the price will continue to decline to the level of $36K and $33K. Where the liquidity is actually.
The situation will change dramatically only if the price forms locally higher lows and is able to close above the marked liquidity gaps .

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