In this concept, I share my viewpoint on the present condition of the waves. It's not a short trade suggestion yet, but rather an observation of what I perceive to be happening.
I unmistakably detect a sense of frenzy at the peaks, whether it's through comments or news pieces regarding cryptocurrency.
Market behavior consistently mirrors the collective psychology of its participants. While I suspect we might be at or nearing a peak, further confirmation is needed through the breach of a couple more key levels.
A drop below $47,643 and $46,792 should offer the initial indications required. Additionally, I delve into the broader pattern and its defining characteristics.