The INDEX:BTCUSD/INDEX:ETHUSD chart shows a Clair trend weakening forming a a falling wedge with bullish divergences and a drop in the volume since January 2021.
They are two possible scenarios based the historical data signaling a huge change in the market structure:
1. BTC is going to explode and lead the crypto market to new highs.
2. BTC is going to plunge...
Bitcoin is getting caught in an ending diagonal after 5 waves up. Any break of the lower trendline is a sell signal.
We had the same scenario during April/May earlier this year but in a bigger scale.
We should expect a correction down to $37k