📉 $BTC – The downtrend continues… and the selling pressure is relentless! 🗑️
Despite the bulls' attempts to catch their breath, Bitcoin ($BTC) remains stuck in a clear downward trajectory, with continued breaks of support levels and the formation of lower highs. This scenario reflects the bears' control over the market, as selling pressures increase and the chances of a strong reversal in the near term diminish.
🔍 Reasons for the continued decline:
Weak buying demand at key support areas.
Low trading volumes from buyers compared to the strength of sellers.
Lack of strong breakouts of nearby resistance levels.
📊 Technical outlook:
If the price cannot break through the pivotal resistance levels, a continued decline towards deeper support levels is expected, making any temporary rebound susceptible to failure unless accompanied by strong momentum.
⚠️ Summary: The downtrend remains in place, and any previous optimism was merely a "temporary correction" amidst a larger downward wave. The market needs a strong technical signal before discussing a change in direction.
#DeFiGetsGraded #ETHRally #ETH5kNext? #ETH5kNext? #ETH5kNext? $BTC
