Btc to usd - is it finally trading where it should be?

Keeping it as simple as it can be. Viewing BTC's trading range over the last year (channel) it appears that it is still in bullish territory. Yes, of late it would seem bearish, however - when taking all and all into account - the recent downturn appears to simply be a correction to where it should have been all along. The rapid growth from late October (as many said over and over) was unreal and way too fast and it turns out that it was. Since BTC's ath it is now correcting back to earthly levels. (the rocket ran out of fuel). Using a 2year moving average, btc appears quite healthy and its trading range is currently moving back into the 10 fold (gains) zone. It appears that any price within the channel ($10,500.00 and $7,500.00) should still be considered bullish.