Smart moneys exit plan for Bitcoin
1) Current levels don't offer the whales enough liquidity to fill big sell orders, so we are likely taking out at least the $8400-8500 levels. Retail is more than happy to fomo-buy that breakout.
2) Ascending , declining . Unless the picks up big time, it's looking .
3) Bitmex funding rate based indicator is just about to give a sell signal. It has never failed during this bear market. If it fails now, it's further evidence we have switched into a bull market.
Next week we'll move to ~ $8500 - $9000 trading range. After the distribution is done, I expect to see a 30-40% correction.
This correction is the one you don't want to miss, BTFD.