First of all, let's talk about patterns. is the most pronounced. This is mostly . Combined with the Head Shoulders -even though it is not guaranteed to play out- we are still drawing and if that won't play out, another big resistance signified with the dark horizontal line will mean if we don't get enough and drive this pair to the lower levels. Also we have divergence at between the start and end of the head of the head shoulder I draw.
Second, I believe one of the most important signifier of a trend change: . Looking at this chart, looks as it should have been, absolute dip has more than the previous one (even though previous dip has lower then the dip before that). But coinmarketcap says totally different story. Looking at the history of total BTC of the market, every dip has lower than the previous one (something like 33 percent less every time). Which is very very bad news for bulls.
Third, this might be my conspiracy theory, but I am publishing what I think I am seeing. Comparing 4hr and 3hr chart graphs tells completely different story. Considering many big traders and bots play their positions looking at 4hr charts, I believe bulls are trying to manipulate the chart here. Just go on and compare 4hr and 3hr yourself. You will see more red lines and more bear at 3hr but 4hr says complete opposite.
As a full time HODLER and part time trader since more than 3 years in this market, this is the first time I am shorting BTC . This looks that bad.
the wedge is still valid and i am still bear btw. just not trading it, waiting at usd.