$BTC Technical Analysis: Multiple Bearish Signals Emerging
The chart is displaying several concerning signals:
-Continued resistance at key S/R Flip zones
-Bearish divergence formation
-Declining volume
-Weakening buy momentum with progressively smaller bullish candles
These technical indicators point toward potential downside movement. Even if an immediate drop doesn't materialize, we should be prepared for a possible decline to the Fair Value Gap (FVG) on the daily timeframe.
Daily FVGs tend to be highly reliable zones that often get filled, suggesting this gap has a high probability of being closed in the near term.