John_Profits
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Bearish
Bitcoin shows clear signs of exhaustion on weekly time frames... and the whales are already moving.
• After forming a double top at all-time highs, the weekly indicators show weakness: the MACD has just crossed downward, and the RSI has fallen from extreme overbought levels.
• The price is dropping out of the bullish channel that it held since USD 75,000 in April.
• In addition to this, there is a massive sell-off: a whale has liquidated approximately 24,000 BTC (USD 2.7 billion) and then 22,769 BTC (USD 2.59 billion).
The most striking thing: a large portion of these funds have been rotated into Ethereum, which reinforces the narrative of selling pressure on Bitcoin and possible redistribution to altcoins.
What could this mean?
➡ An imminent correction that could deepen if the support is not held.
➡ Migration of capital towards Ethereum or other altcoins, which could redistribute dynamics within the crypto market.
Phase of deep correction from 125k to the weekly FVG in the 98-85k to gather liquidity?
• After forming a double top at all-time highs, the weekly indicators show weakness: the MACD has just crossed downward, and the RSI has fallen from extreme overbought levels.
• The price is dropping out of the bullish channel that it held since USD 75,000 in April.
• In addition to this, there is a massive sell-off: a whale has liquidated approximately 24,000 BTC (USD 2.7 billion) and then 22,769 BTC (USD 2.59 billion).
The most striking thing: a large portion of these funds have been rotated into Ethereum, which reinforces the narrative of selling pressure on Bitcoin and possible redistribution to altcoins.
What could this mean?
➡ An imminent correction that could deepen if the support is not held.
➡ Migration of capital towards Ethereum or other altcoins, which could redistribute dynamics within the crypto market.
Phase of deep correction from 125k to the weekly FVG in the 98-85k to gather liquidity?
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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