Bitcoin Price Analysis: Is it Time to Buy the Dip on BTC/USD?

BTCUSD continues to show weakness on the sixth day!

The price briefly recovered to $63,900 but remains trapped under a bearish trend after breaking through two key support levels.

The outlook remains bleak as the 1D chart for BTCUSD shows convergence with resistance.

Should the $61,000 support level be approached and breached again, BTCUSD could rapidly drop to $51,000 due to a lack of technical support!