It looks like the downward trend will be prolonged after the rumors a few weeks ago from Tesla and the ban on miners from China to make the market a bear, on the other hand nothing can strengthen the market again after the previous bullrun and now just waiting for what trend what happens next, could this continue to be a bear market? the price is close to $ 30k and my reason is that if it has reached $ 20k it is possible that bitcoin will experience another prolonged crisis.
The market is going down again and it is difficult to know what it is going to happen, we have been trading near the 30k level for some time and this had people worried, now the price is trading below that level and if this continues for long then a new drop in the price could be inevitable, however this is not as bad as it may seem as this could be the perfect moment to buy some bitcoin and get it relatively cheap, so anyone that has some fiat available should take advantage of a new correction in the case it appears.
Market is never been easy to predict even though we do see it dropping but knowing the next movement would be impossible but at least we do have technical indicators that we can use to make out analysis
and would be applied into our own predictions and now on the question is btc in a down trend? We can say so basing on the current behavior but we dont know if this would be just some sort of last pullback
before making some take-off. The market had been moving sideways for a while now and its really hard to tell on when it would next be heading.It cant give out any signals
and there are no news yet which we can make use of.