Bitcoin has confirmed a breakdown below the ascending trendline that supported price throughout several previous sessions. More importantly, every recovery attempt after the break has been quickly rejected beneath the former trendline, showing that this area has shifted from support into resistance.

Price is also trading below both the short- and long-term EMAs, while each rebound forms a lower high. This reflects a clear loss of buying momentum, with sellers continuing to apply pressure throughout every recovery attempt.

If Bitcoin remains rejected below this dynamic resistance zone, I expect the decline to continue toward the 62,000 area in the near term. The short-term bearish outlook will only be invalidated if price reclaims the broken trendline and holds steadily above it.

This is only my personal view based on technical analysis. Wishing you successful trading!