Bitcoin: Volume May Hold The Key Bitcoin / TetherUSBINANCE:BTCUSDTDukesMarketAnalysisLower Highs Keep Bears In Control • Bitcoin continues to produce a series of lower highs and lower lows while trading below the bearishly crossed 100/50-period EMAs, keeping the short-term trend firmly bearish. $60,000 Losing Short-Term Significance • Although Bitcoin is attempting to stabilise around the key February low at $60,000, price has repeatedly traded above and below the level, reducing its importance as short-term support. Volume Continues To Favour The Bears • Heavy selling volume accompanied the recent move into the lows, while the weekend recovery has developed on significantly lighter volume, suggesting the bounce lacks strong buying conviction. $62,500 Remains The First Hurdle • Bulls need to reclaim the $62,500 resistance area to signal an initial change of character and improve the short-term technical outlook. Trend Still Favours Lower Prices • Until resistance is reclaimed, the previous downtrend remains intact, meaning the technical odds continue to favour another move lower. In Summary Bitcoin remains technically weak, with lower highs, lower lows and the bearishly crossed 100/50-period EMAs continuing to favour the sellers. While price is attempting to stabilise around the key $60,000 area, repeated moves through that level suggest it has lost much of its short-term significance. Coupled with weak recovery volume, the current bounce lacks conviction. Bulls must reclaim $62,500 before sentiment improves. Until then, the path of least resistance remains lower.