Odaily News Rob Ginsberg, a chart analyst at Wolfe Research, said: "The situation in the entire cryptocurrency field is not optimistic at the moment. Bitcoin is still trapped in a downward channel and the price is gradually falling from its high in March. Although a short-term breakthrough will be very positive, we still respect this general trend. Bitcoin may return to the bottom of the range in the next few weeks, that is, the low area of $50,000. Since peaking in March, Bitcoin's trend has been deteriorating, with a series of lows and lows. Unless this trend changes, whether it is a breakthrough or a more gradual reversal, we will continue to be bearish on Bitcoin's short-term to medium-term prices. "(Jinshi)