🚨 $BTC 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐀𝐥𝐞𝐫𝐭!🚨
Bitcoin is currently experiencing a bearish trend, marked by a steady decline from the recent high near $69,000. Immediate support lies at $58,550, a critical level to watch for potential bounce-back. If this support fails, the next major support level is around $51,500.
The Volume Profile shows significant interest and trading activity around these support zones, indicating potential buyer interest. The downward sloping trendline suggests continued selling pressure. Bullish traders should wait for a confirmed breakout above this trendline to consider new long positions.
Bearish sentiment remains strong, but these support levels could trigger a reversal. Monitoring volume and price action near these supports is crucial for anticipating the next move. A break below $51,500 could accelerate the bearish trend towards lower levels. Stay vigilant, and watch these key levels closely for potential trading opportunities!
