This is a weekly view of BTC. The structure is clear and concerning.
The circle on the left shows the distribution pattern that led to the 2021 crash. The circle on the right shows where we are right now. The similarity is undeniable.
We have just witnessed a major weekly rejection and a structural break to the downside. The macro top appears to be in, and the bearish reversal has started.
The arrow indicates the expected trajectory. I anticipate a continued decline toward the major weekly support clusters shown by the yellow lines below.
The circle on the left shows the distribution pattern that led to the 2021 crash. The circle on the right shows where we are right now. The similarity is undeniable.
We have just witnessed a major weekly rejection and a structural break to the downside. The macro top appears to be in, and the bearish reversal has started.
The arrow indicates the expected trajectory. I anticipate a continued decline toward the major weekly support clusters shown by the yellow lines below.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.