Hello traders, Bitcoin BTC/USD continues to move within a downtrend and a bearish channel. The moving averages indicate a bearish trend. Prices have broken below the signal lines, indicating downward pressure from sellers of the asset and a potential continuation of the decline in BTCUSD quotes. At the moment, we should expect an attempt to develop a bullish price correction and a test of the resistance area near the 74265 level. From there, we can expect a bounce downwards and a continuation of the Bitcoin price decline with a potential target below the 43745 level. The cancellation of the Bitcoin decline scenario this trading week will be a strong rise and a breakthrough above the 85505 area. This would indicate a breakout of the resistance area and a continuation of the BTC/USD price increase with a potential target above the 95605 level. Confirmation of the bearish movement development will be a breakthrough below the support area and a close of quotes below the 60205 level. Bitcoin is expected to test the resistance area near the 74265 level, followed by a continuation of the cryptocurrency's decline towards levels below 43745. The cancellation of the cryptocurrency Bitcoin price decline scenario will be a strong rise and a breakthrough above the 85505 area. In this case, we should expect a continuation of the uptrend with a target at the 95605 level.
