Bitcoin struggles below key resistance after failing to break through a dynamic trend line. With a bearish lower timeframe trend, traders need to be vigilant for potential shifts in market direction. A tighter analysis shows Bitcoin’s price consolidation below the point of control (POC) may signal further downside movement or a possible bullish recovery depending upon forthcoming price actions.
Bitcoin is currently in a tricky position, trading below a significant resistance level after bouncing off a dynamic trend line. Traders should keep an eye on the lower timeframe trends which are still bearish. These trends could eventually impact the higher timeframes if the current situation doesn’t change soon.
