🚀Hey BTC enthusiasts!🚀 Don't let the recent bearish trend in Bitcoin's price action get you down! 🐻 Yes, it's been making lower highs and lows since dropping below $70K, even breaking below the key $60K level and the 200-day moving average around $58K. But hold on! The $57K support level has been a lifesaver, preventing further drop. If BTC can climb back above the 200-day moving average quickly, this could be a bear trap, and a rally could be on the horizon! 🌅

On the 4-hour timeframe, the bearish trendline is still intact. But with a recent rebound from $54K, the $57K level is being tested. If BTC breaks through $57K to the upside, a rally towards the bearish trendline could be expected in the short term. However, the overall bias remains bearish as long as BTC is trading below this trendline. 📉

But here's the kicker! 🎉 Despite the recent price downtrend, the Bitcoin exchange reserve metric, which measures the amount of BTC held in exchange wallets, has seen a rapid plunge in recent days. This suggests that some investors are seeing this price as a buying opportunity and are buying and withdrawing coins from exchanges. If this trend continues, the supply and demand equation could shift in favor of a bullish move, and the correction could be over soon. So, keep your eyes peeled, BTC fans! The bull run might just be around the corner! 🐂🚀