Bitcoin is still struggling to break free from its six-month downward trend, although it recently managed to surpass the 50-day resistance. While this is a step in the right direction, it’s not enough to signal a strong recovery just yet.

What’s also worth mentioning is that after Bitcoin experienced its largest green candle in a while, it was quickly followed by a large red 4-hour candle. This suggests that bearish pressure remains dominant, and there’s a good chance BTC could dip below the $60,000 level again, possibly as soon as today. DYOR