Four hour chart#BTC🔥🔥🔥🔥 :
On the chart, we see a descending wedge formation, which has previously shown a false breakout. The price is below the main moving averages (EMA 50, 100, 200), which confirms the bearish sentiment in the market. The current support is located at $53,990, and we see an attempt by the price to recover from the recent decline. However, the volume profile points to strong resistance above $57,758, which will prevent the price from rising.
#Bitcoin Liquidation Map:
Important liquidation zones are concentrated around $57,000 - $58,000, which may indicate a possible move higher as liquidity is gathered. However, the current liquidity level below $54,000 indicates increasing selling pressure and the possibility of further declines if buyers fail to hold current levels.
Capital flow chart:
The Taker Buy/Sell Ratio is declining below 1, indicating that bearish sentiment is prevalent in the market. The preponderance of sell orders may indicate that market participants are expecting the price to fall further. The current price is around $54,000, which also confirms the selling pressure.
Conclusion:
At the moment, the situation on#Bitcoinremains bearish. Technical indicators and liquidations data show that the price may continue to decline if the $53,990 level is broken. Current attempts to rise may meet strong resistance above $57,000.
✈️ Individual Consultation on Cryptocurrency Trading 👍 ➡️@INVESTIDEAUA INVESTIDEAUA
