🎯 Takeover
Volatility on bitcoin has subsided little by little, the price has been flat for a month and a half. During this time, the market gives technical signals that can suggest the further direction of the price.
📕 There are many bearish impulses in the sideways, accompanied by increased volumes, 6 bearish vs. 2 bullish.
📕 Inside the sidewall, despite the relatively short two attempts to update $45,000, volume is distributed closer to the upper boundary. Time-wise, however, price is predominantly closer to the lower boundary. This is another argument in favor of major selling near the upper boundary of the sideways cycle.
📕 Up to $40,000 there are plenty of liquidity shelves that the market will snag with a 90% probability. Price at one point was up 20% from the lower shelf and almost all of the upside has already been absorbed. The $40,000$ upgrade is a matter of soon.
📕 Sell-the-news is more relevant than ever. The entire rise from $28,000 was accompanied by one single info occasion: the adoption of a spot bitcoin ETF. Once the event is accomplished, it is very logical to expect a correction.
📕 Miner sales are now comparable to those at the market peak in 2021 before the decline from $60,000 to $15,000.
📄 It is likely to see a continuation of the sideways trend. Looking ahead to the next few weeks, all indications are that price will touch $37,000.
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