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Bitcoin When it comes to Bitcoin, I had to revise my previous trading forecasts to the downside, as on the daily timeframe, the price failed to sustain above the lower boundary of the ascending price channel and continue rising. On the contrary, the price broke below the support line and started to decline. If Bitcoin does not return back within the northern channel and continues to decrease, from the current levels of 89943, it is safe to sell the leading cryptocurrency, with the bears targeting a drop to the previous local minimum of 80000, which the bears will try to retest for a breakthrough. In case of breaking the 80K level, Bitcoin may move towards a more aggressive decline, and the leading cryptocurrency could plummet to the level of 75000 and below. Daily chart:

Next, I would like to look at the four-hour chart. Previously, an ascending price channel was formed, within which Bitcoin traded from January 18 until recently. As a result, the price broke the support line at the level of 91400, after which Bitcoin exited the boundaries of the ascending price channel, and currently, the leading cryptocurrency is trading at the level of 89943, undergoing a technical corrective rise. However, I do not believe that this corrective rise will continue. More likely, from the current levels, Bitcoin will continue to decline, with the bears targeting the level of 84000. H4 chart: