$BTC has just gone through a week of price decline. I warned about this a few weeks ago. Today, in this new week, we will take some time to analyze what might happen next.

Currently, there are quite a few bad signals appearing. The weekly candle has fallen below the MA 7 line. This is an important indicator for the short term; $BTC is unlikely to increase significantly this week. The MACD indicator does not look good. Buying volume is sharply decreasing and is about to signal a reversal from green to red.

Another bad signal, in the daily Ichimoku cloud chart, the green line has cut deeply through the price bars, cutting through both the blue line and the red line.

However, we have hope for a rebound. #btc has nearly touched the 0.618 level on the Fibonacci chart and has pulled back up. The Ichimoku cloud on the daily frame has not yet been breached; it is still trying to push the price back up.

Thus, this week, in my opinion, there will be a short-term rebound. But don’t hope for this rebound to rise high. I still lean towards a continued downward trend. The 0.5 Fibonacci level is still there; the price may touch this area.

Of course, all assessments are predictions. The market is always full of surprises. Please watch closely and manage your capital well.