technical signs btc has topped:
- bearish divergence on the weekly MACD and RSI
- bearish divergence on the monthly MACD and RSI
- weekly MACD crossed bearish
- 4 months out of this year has been spent in this rising wedge that broke down
- closed 2 weekly candles under 20 week SMA (crucial support for btc , especially in bull market phases)
- about 22 months into the cycle, top should be in now. (see Plan B's btc stock to flow chart)
now for some fundamental reasons:
- everyone expects a blowoff top so it wont happen. whales seemingly frontran this and are selling now
- retail is rediculously bullish
- fed taper narrative
- ive heard random people in public talking about nft's and crypto. this is not a normal thing for non-bubbles
- btc etf was introduced ( btc futures open was literally the top of the 2017 cycle)
if you know me in person, there is one more chart i have found that is a sure fire sign that the top is in. ask me to show u next time we are in person.
- bearish divergence on the weekly MACD and RSI
- bearish divergence on the monthly MACD and RSI
- weekly MACD crossed bearish
- 4 months out of this year has been spent in this rising wedge that broke down
- closed 2 weekly candles under 20 week SMA (crucial support for btc , especially in bull market phases)
- about 22 months into the cycle, top should be in now. (see Plan B's btc stock to flow chart)
now for some fundamental reasons:
- everyone expects a blowoff top so it wont happen. whales seemingly frontran this and are selling now
- retail is rediculously bullish
- fed taper narrative
- ive heard random people in public talking about nft's and crypto. this is not a normal thing for non-bubbles
- btc etf was introduced ( btc futures open was literally the top of the 2017 cycle)
if you know me in person, there is one more chart i have found that is a sure fire sign that the top is in. ask me to show u next time we are in person.