Bitcoin ($BTC ) is still fluctuating in an ascending channel. Although there are no obvious signs of a decline yet, there may not be many trading opportunities in the short term before the price confirms a breakout from the lower edge of the channel, so investors holding long positions can wait and see for the time being.

Although being in an ascending channel is generally considered a positive sign, from a larger market structure, this channel may be broken upward or downward. If the price continues to fluctuate in the near term or even breaks 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 hit a key point and has experienced a small correction. Although the market volatility is usually lower on weekends, considering the activeness of Asian funds, it is expected that the market may still fluctuate this weekend.