It looks like we're seeing a classic Wyckoff Distribution pattern unfolding. For those new to this, the Wyckoff method is a way to understand market cycles, and right now, it seems like BTC might be in a phase where the big players are possibly selling off.
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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.