The bitcoin short it. No need for fancy words or in depth analysis. Huge bear flag forming, according to what I understand, we are expecting large downward expansion soon.
Comment:
There is no momentum catalyst for dramatic upside breakout. There is the downward catalyst in the form of futures gaps at 8400 and one hiding at 7200 I've been eyeing since it formed before btc went to 13k. I think we will begin dumping soon then as it gains momentum below 9k it might flash crash go 7200 , with a possible over extension below 7k causing slot of long liquidation and capitulation down to 5k zone. I cant see the capitulation of longs bringing price any lower than 5200. The bearish market makers and bear whales do not want to scare away the average bull trader. But they do want show you power of dump.
