๐๐๐๐ง๐๐ฅ๐ฒ๐ณ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ง๐ญ๐ข๐ฆ๐๐ง๐ญ: ๐๐จ๐ฅ๐ฎ๐ฆ๐ ๐๐ง๐ ๐๐ข๐ญ๐๐จ๐ข๐ง'๐ฌ ๐๐ญ๐ซ๐ฎ๐ ๐ ๐ฅ๐๐ฌ๐ฅ๐ฅ
When reviewing the recent market action, itโs crucial to focus on the volume accompanying the sell-off candles. Noticeably, thereโs a lack of volume in the rebound movements, which indicates minimal absorption of the selling pressure. This suggests that the retracement is insignificant and more likely to be a temporary pause before further downside. The market is merely taking a breath before pushing the price even lower.
Moreover, looking at the broader context, there are clear signs of distribution. We can observe a divergence in the sellers' momentum, pointing to a potential continuation of the downtrend. These signals imply that Bitcoin may be nearing a critical point, not yet at its final decline, but certainly in a distribution phase.
Bitcoin's current price action reflects the market's uncertainty, but it is not yet the end. However, the way the selling pressure has been absorbedโand the lack of strong buying interestโsuggests that the path ahead is still downward. This is a phase of rebalancing the market, where the bears are in control. Therefore, it's vital to remain cautious and attentive to these signs, as the next movements will be crucial in determining the broader trend.
