The trendline is looking to hold yet again...

Bitcoin has been trading in a channel for some time now...

A very big channel if you zoom out enough.

Check it out:

(Source: https://twitter.com/rovercrc/status/1613938800434057222/photo/1)

The above is a weekly chart showing how bitcoin has respected the channel to the downside and the upside several times in the past.

As it stands right now we appear to be holding the lower bound yet again.

This this hold continues, it reasons to believe that would be heading at least to the mid point of this channel.

That price would be something like $50k, depending on when it happened.

While I don't expect that price to happen this year, you never know...