Bitcoin's Price Struggles: A Bearish Short-Term Outlook

After dipping to 50k in early August, Bitcoin staged a recovery and climbed to 65k. However, the bullish momentum lacked follow-through, as buyers were unable to push past the resistance of a large flag pattern that has kept Bitcoin in a corrective phase for months.

In the short term, Bitcoin’s price pulled back down from 65k, initially forming what looked like a falling wedge—a potential bullish reversal pattern.
Unfortunately, this formation did not hold, and Bitcoin experienced another breakdown.

Currently, the short-term outlook is bearish, with resistance around the 55,500-56k zone.
Short-term traders may consider selling in this range, targeting a move back to 50k if a new leg downward materializes.
This bearish scenario would be invalidated if the price stabilizes above the 58k level.