We can clearly see in this chart that the price has reached the upper boundary of a bullish channel, where it would encounter selling pressure.
As a result of this selling pressure, the price on Friday, January 12th, formed a bearish impulsive candle. Following this candle, it managed to break below the short-term bullish trendline that the price had respected in the last few months.
The bearish breakout of this trendline is a second signal, after the rejection from the bullish channel, that we might see further bearish movement in Bitcoin.
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