BTC Analysis: Broken Support Signals More Downside Toward $54.5kBitcoin / TetherUSBINANCE:BTCUSDTmelikatrader94Hi! BTCUSDT is currently trading around $62,500, but the bigger picture still looks bearish. Price has already broken below the key support area and the major support line, indicating that sellers remain in control. On the RSI, the recent move looks more like a fake bullish divergence rather than a true reversal signal. Despite the bounce, the market hasn't shown enough strength to change the trend. From a structure perspective, BTC could be forming a Three Drives pattern. If this setup plays out, price may first react around the QML (Quasimodo Level) near the $63,500-$64,000 zone before continuing lower. As long as the bearish structure remains intact, I'm expecting another leg down, with a potential target around the $56,500 support area. I’m excited to announce that I’m now a Brand Ambassador for AvaTrade!