Analyst Sees Bitcoin Downtrend Continuing With Potential Drop Below $50,000

Bitcoin recently climbed above $70,000 but one TradingView analyst, HAMED_AZ, still sees the market as strongly bearish as price trades within a descending channel. He warns that a further correction below the $79,000–$82,000 zone could trigger another major decline of around 40%, pushing Bitcoin under $50,000 with a possible bottom near $47,000. A break above $82,000, however, could take the price to the upper boundary of the channel and open the door to a trend reversal.