Over a weekly time frame we are supported at the bottom of the channel which coincides with the trend line which makes it an important support.
If it breaks this downtrend channel, a false breakout could occur near the last support at 37k.
Also broken the 37k if we confirm a lower weekly we are in a probable bear market.
If we stay positive and expand the chart to the Daily, we absolutely need to bounce off this channel for the sixth time and break 42k to have any hope of recovery.
I believe that this channel is currently in a terminal phase because every time a support or resistance is touched it weakens and therefore in the short term it will absolutely have to break this trend that has been going on for some time.
Until we break 37k with volumes it means that we are only lateralizing, for now we are slightly bullish in the channel, let's hold on!
I propose the 3 hypotheses!
Personally I believe that the latter may be the most plausible to trigger further Stop losses
