The cryptocurrency market, particularly Bitcoin and Ethereum, are currently experiencing a period of uncertainty, leaving investors and analysts alike wondering what's next. According to Josh of Crypto World, a key warning signal is flashing on the Bitcoin chart, indicating a potential continuation of the bearish trend. The analyst notes that the bullish movement in the DXY (US Dollar Index) is setting new highs, which historically correlates with falling Bitcoin prices.

Despite being in a larger bull market for longer time frames, the short-term trend for Bitcoin is bearish, and this trend is expected to continue as long as the DXY remains bullish. For the short-term trend to flip bullish, a bearish reversal in the DXY is necessary, which has not yet happened. The analyst advises against turning overly bullish until a confirmed breakout above $68,000 occurs.

Key support levels to watch are between $63,000 and $64,000. If Bitcoin breaks below $63,000, it could drop further to previous lows around $60,000, $58,000, and $56,000. However, as long as Bitcoin remains above the previous low of $56,000 to $58,000, the larger bull market could still be intact. The market may be in a massive sideways consolidation similar to past patterns.

In conclusion, the current bearish trend in Bitcoin is expected to continue in the short term, but a potential reversal could occur if the DXY turns bearish. Investors should be cautious and keep a close eye on key support levels and the DXY's movement before making any decisions.