This is the first time Bitcoin is showing a negative bias in the past four months.
The same dynamic: First half of the month green = second half of the month red.
This monthly session has a long upper wick and the action is now moving toward the lower end of the session as the month enters its second part.
While this can be a strange signal, unconventional, it tends to work.
Just like major hyped up events normally work as sell signal; When a bullish event is about to take place prices drop before the event, rise when the event happens.
When a major bearish event is about to take place prices rise before the event, drop when the event happens. This is a common theme.
But what does the chart say?
We have four months of growth in a recovery year, 2023.
2024 Is the bull-market year and some of 2025.
In a bull-market, we can see month after month after month of green, always after the halving, never before. It is easy for Bitcoin to produce a correction after four straight months of going up.
At one point buyers become exhausted and sellers start to show up...
Notice the trading volume, quite revealing... Very low in the last 9 months.
This bullish wave is near its end... We enjoyed/tracked the entire ride to the upside, everything is the same but in reverse. People are in denial and the sentiment goes from: "Great!", "Thanks", "Love you!", to: "#$%@", "#$%@", "#$%@"!
Why the change in just a few days?
👉 Between EMA50 and 0.786 Fib. retracement we have a 26,000 to 22,000 price range.
The last time EMA50 was tested as support was March 2023. This is a major level to consider on the monthly timeframe. Anything lover would have to happen on a wick.
Namaste.