BTC is forming an HS structure that can project the price to 40K. Of course, I can be wrong as they say: the market is sovereign and does what it wants.
However, at the moment I am seeing the construction of a price structure that can lead to a distribution, that is, the mentioned correction.
The volume has been falling since the price reached 40k, and the price since reaching its peak at 62k has not managed to renew its ATH and is facing resistance precisely in the region of the previous top between 58 and 59k.
Weis Waves also shows us that demand has been falling since January, that is, we have a divergence between high prices and the absence of volume, which results in small abrupt corrections. However, in my view, it is worth mentioning that we can start a strong (distribution) correction at any time.
A great weekend for everyone
However, at the moment I am seeing the construction of a price structure that can lead to a distribution, that is, the mentioned correction.
The volume has been falling since the price reached 40k, and the price since reaching its peak at 62k has not managed to renew its ATH and is facing resistance precisely in the region of the previous top between 58 and 59k.
Weis Waves also shows us that demand has been falling since January, that is, we have a divergence between high prices and the absence of volume, which results in small abrupt corrections. However, in my view, it is worth mentioning that we can start a strong (distribution) correction at any time.
A great weekend for everyone