BTCUSDTBTCUSDT SPOTBYBIT:BTCUSDTHAMED_AZHello Traders! 👋 What are your thoughts on Bitcoin? Bitcoin remains in a broader downtrend. After finding support around the $58,000 level, price has entered a corrective rally. However, this move is still considered a temporary correction within the prevailing bearish trend, with no confirmed signs of a broader trend reversal. Over the coming week, the correction is expected to extend toward the highlighted resistance zone, where the long-term descending trendline converges with the 50%–61.8% Fibonacci retracement, creating a strong confluence area. Price is expected to face selling pressure upon reaching this resistance zone and form a bearish rejection. If this scenario plays out, it would reinforce the prevailing downtrend and increase the probability of a decline toward a new swing low. In this case, the 0.707 Fibonacci retracement near $48,000 stands as the next major downside target. As long as Bitcoin remains below the highlighted resistance zone and the long-term descending trendline, the bearish outlook remains intact, and any upside movement should be viewed as a corrective rally rather than the beginning of a new bullish trend. If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️