FX.co ★ Weekly analysis on Bitcoin for the end of 2022.

Bitcoin continues to trade sideways over the last two months with no real progress. Price continues to trade near the 2022 lows at $16,600. Medium-term trend remains bearish. Bitcoin is well of its all time highs having suffered by the scandals in the crypto market. Technically Bitcoin remains in a bearish trend with no sign of a reversal. The most probable outcome would be for Bitcoin price to break the recent sideways consolidation move to the downside. Resistance remains key at $21,180. Bears remain in control of the trend. As long as we trade below this level bears are in control.