💸Bitcoin Analysis🚀🚀
Bitcoin is encountering fierce resistance across critical levels, and the charts are sending cautionary signals. Order books show substantial sell walls forming around key price zones, effectively blocking any sustained upward momentum. Whales and institutional players appear to be offloading positions into every rally attempt, creating a scenario where buyers struggle to break through thick layers of supply.
Technical metrics reflect this standoff. The RSI has cooled significantly after flirting with overbought conditions, suggesting bullish exhaustion. Meanwhile, on-chain data highlights a noticeable increase in exchange deposits, indicating that more BTC is ready to be sold rather than held in cold storage. Every time Bitcoin has tried to push past resistance, volume has spiked—but not in support of the move. Instead, these surges have marked distribution phases, where sellers overpower eager dip buyers.
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