Bitcoin Rejected at Daily Time Frame Resistance – Is a Drop to $50,000 Coming?
Bitcoin (BTC) recently faced a key rejection at a crucial resistance level on the daily time frame, sparking concerns of another potential decline. The cryptocurrency, which has been trading within a descending channel for the past several months, tested the upper boundary of this channel at around $62,150 but failed to break through. This rejection could signal the continuation of the bearish trend, with the possibility of BTC dropping back toward the $50,000 level in the near future.
