Bitcoin ($BTC ) is still fluctuating in an ascending channel. Although there are no obvious signs of decline yet, there may not be many trading opportunities in the short term before the price confirms a breakthrough of the lower boundary of the channel, so investors holding long positions can temporarily remain on the sidelines.

Although generally speaking, an ascending channel is considered a positive signal for the market, from the perspective of the larger market structure, this channel may be broken upward or downward. If the price continues to fluctuate within the channel in the near future and even falls below the support level, it is best to wait until the market opens next Monday before making a clear judgment.

At present, the price of $BTC has touched the key point and has experienced a small correction. Although market volatility is usually low on weekends, considering the activeness of Asian funds, it is expected that the market may still fluctuate this weekend.