Bitcoin has decreased by 0.77% over the week - and this is much more important than it seems.
Such minor fluctuations often mask fundamental signals. Despite the price increase, technical indicators show otherwise:
— MACD indicates a bearish divergence
— OBV confirms a decrease in volumes
— Volatility is rising, but we are on the verge of overbought conditions
The decline in trading volumes by 99.4% from the weekly high looks particularly concerning - this is a sign of market fatigue.
My opinion: now is not the time for euphoria. If you're holding BTC - watch for a trend change. If you're preparing to enter - wait for confirmation. Uncertainty is the most dangerous companion for a trader.
The price may still rise, but without volumes, it will only be a shadow of a true bullish movement.
