📝As of April 29, 2024, bitcoin remains under considerable bearish pressure according to multiple indicators across different time frames. Currently trading at $62,279, bitcoin has shown a 24-hour range between $61,994 and $63,929. 🔥
➡️Bitcoin’s (BTC) daily chart presents a stark bearish trend with a series of lower highs and lower lows, suggesting that sellers maintain a strong grip on the market. The presence of bearish downturns hints at a potential slowdown in momentum. However, the declining volume accompanying the price drop leaves room for ambiguity regarding a near-term reversal. Crucial for traders will be the support level at approximately $59,629, which, if breached, could precipitate further declines. Conversely, heavy resistance lies at around $72,756, marking critical points for potential entry or exit strategies depending on market confirmation. 🚀
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