(BTCThis week’s () price drop is a sign that bears are looking for an opportunity to retrace their steps. As such, the bulls will be on the lookout for any price movement, including the Nov. 28 gain of 8%. Technical analysis is not a science. Therefore, traders often look at several time periods 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.