The chart indicates a downward trend for Bitcoin (BTC) on the Binance BTCUSDT perpetual contract, as shown by the current price at $68,351.4, a 1.24% decrease. The EMA (Exponential Moving Averages) lines also suggest weakening momentum, with the price below the shorter EMAs (5 and 10), hinting at bearish sentiment. Additionally, the aggregated long/short ratio is at 0.6891, suggesting that short positions currently outweigh longs among takers.
In summary, the indicators suggest the trend is more likely to continue downward unless there is a strong support level or reversal signal.
