Re: Bitcoin is getting more bearish, what is the trigger?
We can see that there is a bearish channel pattern in bitcoin and this is Bitcoin's current position, which is already in a bearish phase. Before there is a breakout of the resistance, the current Bearish will continue to occur.
If you want to invest or trade, it's better to be careful because the potential price towards the $40k level is still possible.
I think, judging by the bearish pattern on your chart, this is a strong indication of a deeper decline. However, this pattern has so far not been confirmed. To confirm this pattern, it is necessary to wait for the price to drop to the level of $47k. Buy positions are not recommended, especially for those who want to invest in the short term. If you want to buy, it's better to wait when the price reaches the $55k level so it's safer to buy.
He is using a 4H candle on his chart which means that there's a possibility that this bearish trend will continue for quite some time but its still a short time frame compared to daily and weekly. It's still good on weekly and daily time frames so I don't expect it will go deeper than 45K. Like you said, wait for the bullish confirmation is the best thing to do to play safe on this bearish market.