For the first time coming out of a multi-year high, so, for the first time since April 2021, Bitcoin moved and closed weekly below EMA10.

👉 Bitcoin is now officially trading within bearish territory.

This signal can be interpreted as the start of a short-term bearish wave. If the wave will be long or short in duration we cannot tell at this point; assuming our halving theory, bull-market, etc., we expect a short-term correction —fast and strong followed by sustained growth but this is just speculation of course.

➖ The truth is that Bitcoin moved completely different in this cycle compared to previous cycle.

➖ The truth is that we are in uncharted territory, whoever gets it has done a good job at this point.

👉 The correction can be mild or strong.

So far all signals continue to point toward a major crash in the coming days or weeks; it can always extend but the bearish signals are only becoming stronger, the bullish side weaker.

The feeling right now is as if there are no buyers... Waiting... Waiting for something; maybe the movement of some funds. Maybe the waiting is for some market participants to become complacent or maybe simply this is just how human psychology works.

There was plenty of time to sell at the top but for many this isn't enough... Right now we are going down and instead of securing amazing profits, some people are kind of greedy hoping for more.

All we can say is that Bitcoin will grow in the long-term... But short-term, prepare for the drop!