Hello traders, #Bitcoin ???? The BTC/USD rate currently shows a continuation of the downward trend within a descending channel. Technical analysis confirms the presence of a short-term bearish trend for Bitcoin. Prices have crossed the area between the signal lines, indicating pressure from sellers and a possible further decline in the asset's value from current levels. When forecasting the cryptocurrency rate, one can expect an attempt at an upward correction and a test of the resistance level around 104065. Subsequently, a bounce downwards is likely, with the Bitcoin price continuing to fall towards a target below 93405. An additional indicator of the decrease in the BTC/USD value will be the breach of the resistance line on the Relative Strength Index chart. A second confirmation of this scenario will be a bounce off the upper boundary of the bearish trend. A breakthrough of the level 110505 and a strong asset growth will negate the likelihood of a decline, indicating a continuation of the upward trend towards 116665. The situation deteriorating will be noted by breaking through the support area at the level of 99345, with the price settling below this mark, indicating a breach of the lower boundary of the bullish channel and confirming a further decline in the rate. The BTC/USD rate forecast implies an attempt to surpass the resistance level around 104065. Subsequently, a continuation of the cryptocurrency's decline is expected with a potential target at the 93405 mark. An additional confirmation of the downward trend will be the testing of the resistance line on the Relative Strength Index indicator. The scenario of cryptocurrency growth will become possible in the event of breaking through the level 110505, indicating a continuation of the upward movement with a potential target above 116665.
