📊 $BTC (1D)
Analysis:
Bitcoin is currently facing a bearish trend as it approaches its 6-month low around the February 2024 closing price. The chart depicts a downward slope with recent drops below critical support levels, indicating potential further declines. This trend suggests that the cryptocurrency may continue to struggle in the near term.
Price Targets:
If the bearish momentum continues, watch for Bitcoin to test key support near $52,000. Further decline could push prices toward the next significant support around $50,000. On the upside, if momentum reverses, resistance levels to watch are around $57,000 and $60,000. Stay vigilant as market conditions could shift.
