Omkar Godbole is the market reporter for CoinDesk, the global leader in blockchain news, where he produces technical chart-based price updates on Bitcoin and other alternative currencies.
Bitcoin fell by 50 percent in the first three months of 2018 – a drop that marks the cryptocurrency's worst Q1 performance on record.
Bitcoin's recovery is gathering pace, but only an upside break of the falling channel would confirm a bullish trend reversal
The crypto markets had a rough ride in the first quarter of 2018, with just two tokens bucking the downtrend.
Despite having witnessed a so-called "death cross" over the weekend, bitcoin is now eyeing gains above the $7,000 mark.
It's been a bad week for the wider cryptocurrency market, and one token alone in the top 25 by market cap has registered moderate gains.
Bitcoin prices dropped to a 50-day low of $6,630 today, but a bottom may be in sight, chart analysis suggests.
Ripple's XRP, ether and bitcoin cash have all hit fresh lows for the year, amid broader crypto market weakness.
Bitcoin bears have come out victorious in the two-day tug of war with the bulls and may push prices down to $7,000.
Bitcoin is likely to outperform its rival bitcoin cash in the short-run, the technical charts indicate.
Bitcoin risks entering a technical "death cross" soon, but the bearish signal will likely not be as severe as has been made out in reports.