Bitcoin (BTC) lost support at $11.4k and fell into its long-term trend channel (Figure 1), but has yet to breakout of it's downward trend.
What to expect?
Bitcoin's RSI is low and the MACD has yet to signal a trend reversal. I expect the price to continue navigating through the long-term channel and continue to follow the downtrend until it reaches the support of the long-term channel.
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