BTCUSD Reverses from Major Resistance, Downtrend Expected

BTCUSD has been trading in a well-established downtrend channel over the past few weeks. Recently, it hit a major resistance level and is now showing signs of a reversal to the downside.

Key Resistance Break:
The price action indicates that BTCUSD is failing to break through the resistance level, signaling a potential continuation of the downtrend in the upcoming sessions.

Potential Target:
Looking ahead to next week, we anticipate that BTCUSD may resume its downward trajectory and could potentially touch the 55,000 mark if the bearish momentum continues.

RSI Momentum Shift:
Multiple RSI lines have shifted downward, confirming the weakening momentum and supporting the likelihood of further downside movement.

Conclusion:
Traders should watch for confirmation of the downtrend as BTCUSD moves further from resistance. The technical indicators, particularly RSI, suggest that the market remains bearish in the near term.

Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Trading cryptocurrencies involves significant risk, and you should conduct your own research or consult with a licensed financial advisor before making any investment decisions.