Based on my indicators and my personal gut feeling, I think we are likely going to retest the Support (old ATH) at roughly $42200 with a quick relief, then bearish retest and then shuffle around in the 40-48k area for a while before entering (A.) a slightly deeper correction or (B.) resuming uptrend towards the 60k+ area.
My personal feeling:
Volume has been slowly decreasing in the last week and will likely continue to decrease for a bit as traders start to reevaluate.
Several Daily and weekly bear divs are starting to play out, hinting at a deeper correction.
Onchain also showing signs of weakness, with higher erc20 and btc inflows.
Seems like all markets are and will experience a cooldown phase over the next month.
MM
My personal feeling:
Volume has been slowly decreasing in the last week and will likely continue to decrease for a bit as traders start to reevaluate.
Several Daily and weekly bear divs are starting to play out, hinting at a deeper correction.
Onchain also showing signs of weakness, with higher erc20 and btc inflows.
Seems like all markets are and will experience a cooldown phase over the next month.
MM