After an incredible run up from the low $3k, BTC tops out at $9k. Anticipated by a clear daily RSI bearish divergence and a dwindling volume, BTC draws a clearly bearish engulfing candle after a weekly doji. I expect the retracement stabilize around the 6300 resistance area which also coincides with a VPVR node. A wick into the 5800 area that bounces of a 200...
It seems to me $BTC is starting to consolidate and form a trading range. We can draw a parallel to the beginning of the last bull market, where bitcoin consolidated in a sideways trading range after a parabolic move. As the trading range forms, BTC dominance peaks. Eventually, as BTC gets ready to break the trading range, BTC dominance bottoms. The fractal nature...
It is hard to get a good short after a parabolic advance. I believe this is a great opportunity for a trade.