Bitcoin's Bearish Trend and Potential Falling Wedge Pattern

Bitcoin is retesting a crucial support level, forming a falling wedge pattern, with negative funding rates indicating potential bullish movement.

### Bitcoin Price Analysis: $65K Support Breakdown, Falling Wedge Pattern, and Stock Market Correlation
* 📉 Bitcoin is currently breaking below one of the **most important levels of support at $65,000** and retesting it as resistance, forming a **falling wedge pattern**, which is typically **bullish**.
* 📉 While a bearish continuation is likely due to the resistance flip, **negative funding rates suggest a contrarian bullish view**.
* 📉 On the daily timeframe, a significant support level is observed at **$65,000**, with a potential downside target of **$60,000** if the falling wedge support is breached.
* 📈 Despite the current bearish sentiment, the historical correlation between the S&P 500 and Bitcoin suggests that when the stock market rallies and Bitcoin lags, **Bitcoin tends to have strong recoveries afterward**.
* 📈 "Sometimes Bitcoin can lag behind the stock market movements, but they usually walk hand in hand and **reconnect after deviations**."
* 💰 For those interested in trading Bitcoin or altcoins, a **deposit bonus of up to $40,000** is available by signing up through the provided link.
* 🌐 "As the stock market continues to make new all-time highs, more value is generated globally, which could **flow into Bitcoin**."

Bitcoin is right now breaking down of one of the most important levels of support of this entire Trend, and on today's update video, I will be talking about my price targets, the funding rates on bitcoin, what is happening on the imminent short term, and many more important charts and data points which are telling us something about all the things that are happening right now. So I will be discussing the most important chart, and don't forget to sub the like button back above 1,000 likes. And with that being said, let me get straight away in towards the content. So currently only immin short term, Bitcoin is breaking below one of the most important levels of support, which was of course $65,000. And ever since we have seen the breakdown, we're right now bouncing back towards the upside and are actually retesting this exact level, which previously around flipped into support and now it's flipping into resistance. So Bitcoin is currently retesting one of the most important levels out there. And actually if you're removing also all the drawings, you can currently clearly see

we're creating a slight little downward sloping support line on bitcoin. We're creating an downward sloping resistance line on the top side. So while this is happening, we're also creating a new pattern, which is called a falling wedge pattern. And a falling wedge pattern is a typical, more bullish bias pattern, which is very interesting to see, of course, since Bitcoin is trading so bearishly towards the downside right now. And while we are indeed seeing that retest, I am definitely a little bit worried about it because this level, which we are currently retesting, is right now flipping into resistance. And I want to be straightaway say here is that if Bitcoin can break above this level, it would most certainly mean that we're most likely still going to be bouncing higher. But since we confirmed the break below it and are currently seeing a bearish retest, it is likely actually that we're going to be seeing a continuation downward. But I still want to be pointing out is that currently the funding rates remain to be negative.

which means that the majority of the traders in the market are currently trading short. You can see it here on Bybit on the top side of your screen. The funding rates are currently negative. Basically, if funding rates are negative, it means that the majority of the traders are trading short. And if everyone is trading short, I rather want to be a little bit more bullish on Bitcoin. So yeah, we can see in this trend downwards here. Bitcoin has found a somewhat of a big support around $65,000. Right, so we bounced from it right here, we bounced from it right here, and we bounced from it right here. But yesterday evening, we broke below it. And now, actually, we are retesting this level. So we are having a very important retest of a previous level of support, which is currently flipping into resistance. And from textbook analysis, this means that we're most likely going to be seeing a rejection and move all the way down again here. But I still want to be pointing out we are currently creating a

massive falling wedge pattern. Liquidity is still being built up above us, and the funding rates are massively negative, which also gives for me enough reasons to not necessarily be all too bearish on Bitcoin. Since this most certainly could be an enormous STP, we are currently creating. So, while all this is happening, we are indeed also not only creating that falling wedge pattern on the short term but also on the larger time frame. On The Daily time frame, we're also creating one with, of course, that lower low support with that lower high resistance. And basically, the moment we're going to be breaking outside of it is the point we're going to be seeing the massive breakout. And on The Daily time frame as well, we discussed this level many times before. You can see we bounced from this level right here. We bounced from the level right here. We got rejected by the level right here, also right here. And we found some support here, and now we're also finding support. So, this level on The Daily time frame is crucial for Bitcoin, and I am putting

all my attention towards it. So currently, indeed, Bitcoin is not necessarily looking so strong. Also, on the spot Bitcoin ETF flows, we yesterday saw over $100 million worth of outflows on the spot Bitcoin ETF, which is of course quite bearish if you would ask me. And basically, the whole entire Market is in a very bearish sentiment, and I do understand that currently we are not looking super bullish because we're breaking below my very important level of support, and we're currently retesting it with a bearish retest. So if we can still break above it today, I think it's going to be looking good, and I think that most importantly we should be looking at this falling wedge pattern. If we break the support of the falling wedge, likely the next big support for Bitcoin, guys, is laying all the way down around $60,000, and I think that the most important support for Bitcoin right now is that $65,000 level. And if we break below $65,000, it is going to be simple Bitcoin is going to be falling.

down to 60k. I've been saying this for quite a while right now. Here, but in fact, we're still trading around that same level like we were a couple days ago as well. So things have not really been changed yet so far. But what is interesting to be seeing actually is that the stock market, the S&P 500, has been setting new all-time highs after all-time high after all-time high. Well, Bitcoin indeed has not been doing really anything. And if we're going to be comparing the S&P over the Bitcoin price and if we're going to be seeing that the points that where the S&P 500 moves very quickly towards the upside and where Bitcoin doesn't, we usually tend to see that Bitcoin recovers very strong afterwards. For example, we saw over here the S&P 500 was increasing in value quite significantly, but Bitcoin did not do anything and basically consolidated. But afterwards, basically we saw an even bigger run towards the upside. And currently, once again, S&P 500 is going up massively. Bitcoin is not doing really.

anything. Are we also once again going to see Bitcoin do really quick moves back towards the upside, just like it did before? So very interesting to be seeing that here. I mean, we have also seen it in a bear market on Bitcoin. Here we can also actually see it. Bitcoin price went down, S&P 500 went up, and then after that point, boom, Bitcoin skyrocketed towards the upside. So sometimes Bitcoin can lag behind a little bit here, but usually, they walk with each other hand to hand, but sometimes they lose each other, but then always they reconnect. So I do really believe that Bitcoin is still likely going to be going higher as the stock market is still going higher, because as the stock market is going higher, there's more value in the wider globe available, and as that is happening, there's most likely also going to be more value going to Bitcoin. Very important to be paying attention towards, guys. If you currently want to be trading Bitcoin or buy any altcoins, you can currently get a deposit bonus worth up

to $40,000 if you sign up an account using that link below of today's video. So make sure to check it out right now on today's video. But anyways, this was it for me today. Upd the video, it was once again a little bit of a shorter video guys. Look at this, I'm chilling in this amazing V right now. So I hope to see you guys next on my next video here on the channel. If you did enjoy this video and if you did learn something from it, don't forget to subscribe to the channel and I'll see you guys on the next one. Peace out, goodbye.

URGENT: THIS IS NOT GOOD FOR BITCOIN...

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Bitcoin's Price Support Breakdown and Short-Term Outlook

Bitcoin is currently breaking down from a crucial support level at $65,000 and retesting it as resistance, forming a falling wedge pattern, indicating a potential bullish bias.

The cryptocurrency's ability to break above this level will be critical in determining its future direction, while negative funding rates persist in the market.

The majority of traders are currently trading short, as indicated by the negative funding rates on Bybit.

Bitcoin is experiencing a significant retest of a previous support level, which is now acting as resistance, potentially leading to a rejection and downward movement.

Despite the bearish outlook, the formation of a massive falling wedge pattern and the negative funding rates provide reasons not to be overly bearish on Bitcoin.

The creation of the falling wedge pattern is observed in both the short-term and larger time frames, indicating a potential massive breakout in the future.

Bitcoin is facing a bearish sentiment with over $100 million outflows on the spot Bitcoin ETF, indicating a lack of strength.

The cryptocurrency is at a critical support level, and a break below $65,000 could lead to a further decline to $60,000.

Despite the stock market setting new all-time highs, Bitcoin has not shown significant movement, but historical patterns suggest a strong recovery after periods of consolidation.

The Relationship Between Bitcoin and the Stock Market

Bitcoin has shown a pattern of quick upward movements, sometimes lagging behind the S&P 500 but ultimately following a similar trajectory.

The belief is that as the stock market increases in value, it will likely drive more value towards Bitcoin as well.

This relationship is important for those interested in trading Bitcoin or purchasing altcoins.

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The rising cost is driven by the addition of luxury amenities in modern dormitories.