(BTCThe () price is currently down for the week. Bears will naturally look for any reversal signals whenever there’s a strong price, like the Nov. 28 gain of 8%. Technical analysis is not a science. Therefore, traders often look at several timeframes in order to identify a story that fits their bias.

BTC is currently in an ascending channel, which began on Oct. 31. If this pattern continues, Bitcoin may drop to $50,000.