A bearish RSI divergence supports a temporary pullback. While price made a higher high, the RSI printed a lower high, signaling slowing momentum. Based on past behavior, a 13%–14% correction toward the $1,190–$1,130 zone would fit the same pattern and complete the flag setup. This region also aligns with key Fibonacci supports.
On-chain data adds to the cooldown case. The short-term holder NUPL has surged 170% since late September, showing traders sitting on high unrealized gains — a typical local top signal. If bulls defend the support range, the next Fibonacci targets remain $1,550 and $1,820. The trend stays constructive unless
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.