Chart explains it all. Now people really believe we will go up from here. And price is staying here so more bulls can be trapped by market maker. Big players took their profits. There will be no new bullrun.
I still think Bitcoin is going to 100k before heading down to 20k levels. As we head into October and November. But always good to have a bearish idea not just bullish, just in case.
baris3
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@PipsnCrypto, It is just Wall Street Cheat Sheet chart. And my opinion.
Was big bear at 48k. If the structure was bearish it would have respected 48k and dumped much lower. It is no longer a structure that fits a traditional H&S. I believe 85k is the more probable target imo.
birarakisarap
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my friend, this is a terrible chart with simple idea of sociology of masses. Maybe you never heard of "stock to flow model"?