Bitcoin remains under bearish pressure as it struggles to break through key resistance levels, confirming a bull trap scenario. Last week's market movements validated the bearish outlook, with Bitcoin failing to sustain gains and experiencing a significant pullback. Short positions have continued to generate profits, with a recent trade yielding a 5.37% return.
The market outlook suggests continued consolidation, with key resistance zones identified at $69,500–$71,500 and $74,500–$76,000. Support levels are noted at $65,000–$66,000 and $60,000–$62,500. Traders are advised to maintain flexible positions and adhere to strict risk management strategies, as the market remains volatile and under the influence of bearish trends.
Bitcoin Faces Bearish Pressure Amid Bull Trap Concerns
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