#BTC☀ $BTC #bitcoin #In-Money/Out-of-Money Around Price (IOMAP): Data from IntoTheBlock shows that more bitcoins were bought between the lows of $58,073 and $66,773, which would indicate strong resistance ahead. is Without an increase in buying pressure, Bitcoin could move to around $54,520.
Technical Analysis: A bearish pattern emerges.
Bitcoin's 4-hour chart shows a descending triangle pattern, which usually signals a continuation of the downtrend. A further decline of 7% could see Bitcoin reach $54,677. However, if buying pressure increases, Bitcoin may try to regain the $60,000 mark.
For now, the outlook remains cautious as the market sees signs of a potential recovery.