Bitcoin could go lower

According to the TA indicators on the weekly chart: the bears are gaining strength, oversold is still very far away, and the price is about to fall into the lower zone of the Bollinger Bands.

BTC's movement below $63k opens the way for a stronger correction to the lower border of the channel at $52k, which would be minus 30% of the current price high.

Nothing like this may happen if good news is suddenly brought into the market. But if this scenario starts to become a reality, then BTC at $52k is not a cancellation of the bull market, it is confirmation that we are still in the early stages of growth, when declines of 30% are commonplace