$BNB
Will Bitcoin’s downtrend continue?
Bitcoin (BTC) appears to be facing strong selling pressure today, as technical analysis indicates that the price is moving in a bearish direction. After testing recent resistance levels, the price was unable to hold above them, increasing the possibility of a negative correction continuing. In addition, we notice that trading volume is declining, reflecting investors’ declining confidence in a strong rebound in the near term.
Other factors such as traditional market movements, monetary policies, and global market volatility may increase pressure on cryptocurrencies. If the selling pressure continues, we may witness a test of important support levels, which may push the price further down before any new upward attempt.
In your opinion, will the downtrend continue, or will we see a sudden rebound in the coming hours? Share your views!
