#Bitcoin has been trading in a downtrend due to an overbought condition, with the current price sitting around €26K. The 1-hour chart indicates that the price has been testing the 50% #Fibonacci retracement level several times, which was predicted. If investors withdraw their funds, bears may succeed in breaking below the 50% retracement level, potentially leading the price towards the 38.2% fib level representing the lower band support of the parallel channel.
