Bitcoin Price Prediction: $BTC Faces 8% Downswing Amidst Distribution Phase

Bitcoin Price Prediction: Over the last two weeks, the BTC price has witnessed high volatility as the overhead supply pressure around the $36,000 mark is undermining buyers’ attempt to regain higher ground. However, a look at the 4-hour time frame shows this consolidation resonates between two parallel walking trend lines of a rising channel pattern. The coin Price currently at the lower trend line of this pattern threatens a potential breakdown which may trigger a bearish correction.