Bitcoin Price Key Highlights

• Bitcoin price seems to be trending lower on its short-term time frames, creating a new descending channel visible on the 15-min and 1-hour chart.

• Price is currently testing the channel resistance around the $2750 level and could be due for a drop to support.

• Bitcoin is still moving above a rising trend line on the longer-term charts but appears to be having trouble sustaining its bounce.

Bitcoin price could be starting a new downtrend as bears wrestle to regain control and push for a break below an area of interest.

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