In the past weeks, quite clearly we are seeing price action of BTC within a narrowing upward channel, holding quite diligently to the 50MA (in green).
However, we are starting to see weakness in the bulls as seems to be diminishing, and a clear divergence printed. The is also starting to show signs of weakness in momentum, and smaller divergence.
According to this analysis, unless the bulls come in strong, the likelihood of a 'distribution period' (see wyckoff market cycles) may be in play. We may see a 'spring' attempt to breakout from the narrowing upward channel only to result in a fakeout, followed by a dramatic markdown. Alternatively, if the 50MA and lower support fails, the markdown may be sooner.