Bitcoin Price Key Highlights
Bitcoin price has formed lower highs and lower lows to trade inside a descending channel on its 1-hour chart.
Price is testing support and a bounce could take it back up to the resistance or the Fibonacci retracement levels.
Technical indicators are suggesting that the downtrend is likely to resume.
Bitcoin price could be due for a pullback on its downtrend as it bounces off the bottom of its descending channel