#ShareYourThoughtOnBTC
Why Bitcoin (BTC) look bearish:
Bitcoin is forming a rising wedge pattern on the daily chart, which often signals a coming breakdown.
Trading volume is decreasing, showing weaker buying interest while price remains near recent highs.
The price action suggests a possible Wave 4 correction, which could lead to a sharp move down (Wave C).
If BTC fails to stay above the $116K–$118K range, stronger selling may follow.
Short-term charts may show a bullish setup, but daily trends are favoring sellers.
RSI and MACD indicators are flashing bearish divergence—momentum is fading.
Lack of bullish follow-through above $122K keeps the upside capped for now.
Traders could get trapped on long positions if support breaks under pressure.
External factors like rate hike fears and low ETF flows add selling pressure.
Overall, short-term sentiment is shifting bearish unless Bitcoin can reclaim higher resistance quickly.
