BTC Longs VS Price Action

Hello Everyone,

Here is bitcoin longs vs Price Action. Please notice the steepness in the drops that led to 20%+ price corrections. I am thinking a correction or major sell off is near.

No matter what your current stance on market cycle is, I would be patient on opening long positions. Buy red - sell Green.

Here are my technicals:

1. Weak Price Action: PA was very similar to that of April-May Time period where we saw large corrections and failures to make ATHs.

2. OverBought RSI: To return to the mean, we must see consolidation or correction.

3. Long Steepness in selling: in the past this led to 20%+ corrections.

4. Weak Volume: Indicates Bulls losing short-medium term strength. Again signaling a correction is near.

I believe we will see a correction. Whales seem to be looking to liquidate positions through manipulation. I would be patient if you're looking to long here.

As always Be patient, use risk management, and good luck trading.