$BTC Technical analysis

Bitcoin just broke down from a rectangle pattern after several days of consolidation, confirming the bearish move. The sharp drop towards the $57,000 level seems to have triggered the target around $54,000. RSI is starting to recover from oversold conditions, but it’s still weak, indicating that bearish momentum might not be over yet. MACD shows increasing bearish momentum with the histogram deepening in the red zone. Watch for a potential bounce, but keep an eye on the support level near $54,000 as the next major test.