One way to interpret Bitcoin price action is the channel shown on the chart. I think a breakout to the upside is more likely now, either immediately or after one more dip to the lower boundary of the channel. Bitcoin has closed 8 red weeks in a row. I know it is a downtrend but let's stay realistic and expect a correction.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.