Bitcoin's price has experienced a pullback, dropping to $82,000 after failing to surpass a local resistance trendline. The cryptocurrency's recovery has slowed, with a 10% pullback in just 36 hours. This has raised concerns about a potential breakdown in BTC prices. Technical indicators, such as the MACD and RSI, suggest increased volatility and uncertainty in the market. Institutional weakness is evident as there has been a significant outflow of Bitcoin from U.S. spot ETFs. However, there is also a declining supply on exchanges, which could lead to a supply squeeze and drive prices higher. Bitcoin's price is currently trapped within a symmetrical triangle, and if it falls below the 61.8% Fibonacci level, it could potentially drop to $70,000. On the bullish side, a successful breakout above the local resistance trendline could push the price towards new all-time highs above $106,000.



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