so this is a 2 week chart, on the daily timeframe and these weekly tf we are still bullish as we continue to make higher highs and higher lows, but we have volume decreasing, we have bearish divergence since last year. volume normally gets lower as we get closer to the end of a pattern as it gets squeezed.
onchain data looks super bullish as well. so going back to my last chart on the daily as long as 40k holds and we don't get a lower low about another 30 days of consolidation if the daily fractal plays out, if 40k doesn't hold then we could have another mini bear market type of deal. i think we will see some downside/sideways as this bearish divergence plays out. short/mid term bearish then bullish. but until then higher highs and higher lows. trend is your friend until is betrays you.
onchain data looks super bullish as well. so going back to my last chart on the daily as long as 40k holds and we don't get a lower low about another 30 days of consolidation if the daily fractal plays out, if 40k doesn't hold then we could have another mini bear market type of deal. i think we will see some downside/sideways as this bearish divergence plays out. short/mid term bearish then bullish. but until then higher highs and higher lows. trend is your friend until is betrays you.