Red lines- bearish channel
Bitcoin remains in a short-term bearish trend. Price continues making lower lows and lower highs inside the red downward sloping channel. Price is now trading below $25,000, which was our target after the recent rejection at the upper channel boundary. Bitcoin remains vulnerable to more downside as the RSI is below 50, with a negative slope and still not inside oversold territory. Resistance is found at $26,975 and as long as we trade below this level, short-term trend will remain bearish.