Bitcoin reached very close to the June-July lows and stopped the decline. Price bounced from $32,000 to $39,000 approximately but yesterday's daily candlestick adds to the bearishness of the chart. Price remains inside the bearish channel from its all time highs.
Bitcoin is trading just above $35,000. Trend is still bearish and there is no sign of a reversal yet. A new lower low closer to $30,000 or even below it is what we expect to see next. Then we might see a bigger bounce higher, but we do not believe its time yet. Bears remain in control of the short-term trend.
