BTC - Price Action Analysis

This is the sell off that, technically, I have been waiting for.

The twist in the kumo from a downtrend to an uptrend is a called a "kumo twist" and price will almost always touch the twist.

Since the price action has ran up from the XRP case, we could say the technicals were in contrast to the price action.

Meaning, the price was doing well, but the kumo twist indicated a sell off that had not yet happened.

So why is the sell off good from a technical standpoint?

Because after price action tests a twist, there will often be a trend reversal. Furthermore, the reversal is on the daily and weekly chart, meaning the trend reversal could be greater than the pops in price action we've seen this year, which have faced resistance every time before, and there was no technical reversal indication until the current twist.

TLDR: This sell off is healthy. Every participant and sideliner who missed the run is going to be the support that makes the bottom.