The bearish trend continues with lower highs and lows, signaling caution. We're seeing strong support around $53,500, while resistance looms at $68,500. A recent bounce from $56K-$57K hints at potential movement, but a break below $56K could lead to a test of $51K-$53K support.
⚠️ Short-Term Outlook: Resistance zones to watch are $60K-$61K, $63K, $64.5K, and $67K-$68.3K. Despite the bearish outlook, a bullish divergence on the 2-hour chart suggests a possible short-term relief rally in the next day or two.
Stay sharp! 📊
