Technical analysis by cryptoonchain about Symbol BTC on 6/5/2023

The technical chart shows the market squeeze. On the price chart, Bitcoin seems to be forming a descending triangle pattern, which is usually followed by a breakdown. According to the on-chain data, the inflow to exchanges is increasing more than the outflow from them. These can indicate the possibility of a breakdown of the pattern in the future. For confirmation, one should wait for the break-up of the support and resistance lines