BTC analysis

I am a believer that volume precedes price. Many of you already know BTC is now in a symmetrical triangle which can breakout to either direction but the big question is in which direction? Here is a couple of things I have observed.

1) OBV is trending down ever since we hit 10.04k as the local top.
2) you can compare the volumes highlighted that volume associated with bearish candles are greater
3) We can see a rounded top and with the recent increase to 9.7k. we have our inverted cup and handle formation(Blue lines). The handle is in a rising wedge with resistance formed by the bull floor from the long term trendline and the recent support trend line drawn.
4) Wave E was completed without a breakout.

All these lead me to conclude that we might be in a distribution phase and a markdown is soon to follow. If the price breakout of the rising wedge we might test the lower support line again and hopefully break out of the entire symmetrical triangle with support from high volume to confirm our price action. This could be invalidated once price breaks out above anytime from now or bounce from the bottom support lines.

Thanks for reading :)