As we can see on the h4 chart, there is obvious signs of a distribution phase in this current range. Buyers came to a halt after a high efforted climax slightly north of 40,000.
Now in sight, we have an LPSY marked off on the charts where price pierced above equal highs but was not able to sustain momentum. This is shown in price action and in climactic volume.
With today's daily evening star close, weekly rejection, and bearish monthly - it is blatant that Bitcoin investors have now reached the euphoric/denial phase of the market cycle.
In conclusion, BTC will definitely shatter lows at 30k... targets 26k range for now.
Now in sight, we have an LPSY marked off on the charts where price pierced above equal highs but was not able to sustain momentum. This is shown in price action and in climactic volume.
With today's daily evening star close, weekly rejection, and bearish monthly - it is blatant that Bitcoin investors have now reached the euphoric/denial phase of the market cycle.
In conclusion, BTC will definitely shatter lows at 30k... targets 26k range for now.