Currently, the price is hovering around $61,000. We have a bearish structure in the three time frames: Weekly, Daily, and H4. It is crucial for the continuation of this analysis that the price closes the week near or below $61,000. For the following week, a pullback to the area of interest located near $63,000 is expected. It is very likely that the movement will bring the price down to $56,000, where the weekly LL is situated. However, in the area close to $58,000, the price might react to the daily structure. Therefore, it is essential to watch how the price reacts to this daily zone, but for now, the outlook remains very bearish.
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