Bitcoin

<ul><li>Analyst highlights BTC trading between $56K support and $61K resistance, with potential targets up to $68K.</li><li>A bearish trend continues as Bitcoin forms lower highs and lows, with critical support levels around $51K to $53K.</li><li>Despite a recent bullish divergence, Bitcoin faces downward pressure, with liquidity zones eyed at $61K to $62K.</li></ul>Renowned crypto analyst Josh highlighted significant developments in Bitcoin&#39;s short-term outlook in a recent YouTube video. The analyst <a href="https://www.youtube.com/watch?v&#61;8oQ3yyHTvvQ" rel="noopener noreferrer nofollow">highlighted</a> that Bitcoin has witnessed significant fluctuations, with hundreds of millions of dollars worth of trades being liquidated within the past 24 hours.Josh&#39;s analysis of the four-day Bitcoin chart shows the SuperTrend indicator flashing red, indicating an unbroken bearish trend. This sentiment is echoed in the two-day chart, where Bitcoin continues to form lower highs and lower lows. With support around $53,500 and resistance near $68,500, Bitcoin appears to be in a descending wedge pattern, signaling potential continued <a href="https://cryptotale.org/bitcoin-faces-uncertainty-amid-rising-market-volatility/" rel="noopener noreferrer nofollow">downward pressure</a>.According to the analyst, on the daily chart, Bitcoin trades within a range bounded by support at $56,000 to $57,000 and resistance at $60,000 to $61,000. A recent bounce from support was met with rejection at the resistance zone. If Bitcoin can break above $61,000, the next resistance levels to watch are near $63,000, $64,500, and the higher range of $67,000 to $68,300.<a href="https://cryptotale.org/bitcoin-faces-bearish-pressure-amidst-major-liquidations/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Bitcoin Faces Bearish Pressure Amidst Major Liquidations

CryptoTale

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