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Bitcoin should had dropped sharply, BUT why not it doesn't DROP?

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From Moving average line aspect:
1. The price closed always below under 5 days moving average recently. Only one day closed a little bit cross over it, but not strong.
2. Price below 20 days and 50 days moving average recently.
3. 4 hours chart lower low and higher low forming a downtrend channel.

Bitcoin outlook: it seems bearish, and Should Had Dropped Sharply, BUT why not it not DROP?

If it does not drop, what does it mean on the other hand?

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