In the daily timeframe, BTCUSD recent losses following a rebound above the 55000 support and lower bound of the descending channel.
The price is approaching the 64000 resistance. If BTCUSD regains its bearish momentum with a reversal below 64000, the price could extend its decline to retest 55000, with a bearish breakout of the channel prompting further price weakness towards 47000.
MACD is holding below the zero threshold, indicating downside potential. Conversely, a break above 64000 could prompt further rise, with 70000 as the next potential resistance.
not financial advice 🔥
