Bitcoin Finding Short-Term Support... Bears Still Hold The EdgeBitcoin / TetherUSBINANCE:BTCUSDTDukesMarketAnalysisPrimary Trend Remains Down • The long, medium and short-term trends all remain bearish. • Price continues to trade below declining moving averages, with downside momentum still dominant. 0.618 Fib Providing Initial Interest • Bitcoin has found some support around the 0.618 Fibonacci level near $61,080. • Buyers have reacted here, but so far the response remains relatively modest. Falling Volume Needs Context • Volume has decreased during the latest move lower. • While that can sometimes suggest selling pressure is easing, it is not a signal to ignore the broader bearish structure. Price Action Still Favours Sellers • The recent decline has been stronger and more impulsive than the rallies. • At present, the chart still shows lower highs and lower lows. Sunday High Remains The Key Level • Sunday's high at $64,234 remains the most important short-term resistance. • A break above that level would be the first meaningful sign that momentum may be shifting. Downside Risks Remain • This could simply be a pause before another leg lower. • Until buyers reclaim key resistance levels, the odds continue to favour a downside resolution. In Summary Bitcoin has attracted some buying interest around the 0.618 Fibonacci retracement level, but the broader technical picture remains weak. Falling volume on the latest decline is worth noting, although it should not be viewed in isolation. The primary trend remains down across multiple timeframes, and recent price action continues to favour the bears. A move above Sunday's high at $64,234 would improve the short-term outlook, but until then, rallies are likely to be viewed as corrective rather than trend-changing.