If we look at the weekly chart of Bitcoin cryptocurrency, Bitcoin is in fact still moves on the Bearish bias where this indicated by its price movement inside the channel nosedive below eventhough there is a correction upward which also confirmed by its price movement above its Moving Average. However, It is necessary to pay attention to the appearance of the Ascending Broadening Wedge pattern which indicates that in the next few days Bitcoin has the potential to return to its original bearish bias where if the Weekly Bearish Fair Value Gap level of 31390.13-33715.58 manages to hold the rate of upward correction then there is a high probability that Bitcoin will fall back down to level 18382.49 unless during the upward correction Bitcoin finds and gains momentum and volatility until it breaks above the level 34468.13 then it is very likely that Bitcoin will continue its strengthening and the decline scenario described earlier will automatically become invalid.
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