At the end of the weekly line, the ASR weekly channel shows the second overbought line suppression of this year, due to the formation of a bearish engulfing pattern after a new high on this weekly line.
Although there is still a possibility of some rebound or volatility in the new weekly cycle, the situation looks grim from the weekly perspective.
If this bull market ends, the weekly line needs to fall back into the volatility channel, with the current estimated range around 68000 to 72000.
Before reaching this situation, the bull market process is still ongoing.
If you want to dig deeper into the crypto space but can't find a clue, and want to quickly understand the information gap, whether it's contracts or spot trading, you can 👉 learn more in my profile
