$BTC #BTC #Bitcoin❗ This is a 5-minute candlestick chart for BTC/USDT on Binance from TradingView. Here's what’s happening:

Trend Analysis:

Downtrend Channel: BTC is currently in a descending channel, indicating short-term bearish momentum. The price is making lower highs and lower lows.

Boxed Consolidation Steps: Each leg down is followed by a small sideways move (consolidation) before another drop — a classic "bear flag" pattern.

Price Levels:

Current Price: Around $104,299

Support Zones: Highlighted in red and blue near $103,000 to $102,500 – these zones may offer bounce potential.

Resistance Zone: Above $104,800 to $105,200, shown in green — this is where sellers may step in again if price rebounds.

Volume & Signals:

Low volume, as seen in "Vol 49.5", often signals a pause or weak momentum.

A potential bounce zone is marked in blue, suggesting buyers might step in if price drops lower.

Summary:

BTC is trending downward in the short term. If the price breaks out of the descending channel to the upside with strong volume, a rebound is possible. If it breaks below the current support, further downside to $102,500 could be next.

Let me know if you want a trading strategy suggestion based on this.