Looking at the price action of Bitcoin it appears to be moving in a descending channel formation. Usually this results in one of two outcomes. Either it breaks out, or it doesn't. And if it doesn't then it's most likely back down to the lows of the channel.
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Disclaimer
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.