Bitcoin price has not yet been able to break out of the large downward channel and move towards a new all-time high, but further growth is likely. However, BTC failed to break the psychological $70,000 mark this week.

On the daily chart, the asset recently rallied after bouncing off the lower boundary of the descending channel and the $60K support level. However, the channel's upper trendline has rejected the cryptocurrency and the $68K support zone is currently being tested. If the level holds, it’s a matter of time before Bitcoin sets a new all-time high.

At the same time, on the 4-hour chart the price fluctuates around the $68K level, not maintaining the upward momentum. The relative strength index also fluctuates around the 50% threshold, indicating market uncertainty.

Analyzing investor behavior can be very useful. There are no signs of aggressive selling pressure from long-term investors. On the contrary, long-term holders realize profits, as in any bull trend, slowly and surely. 📈📉