In bitcoin weekly chart there is breakdown of flag pattern .. big picture is perfect short. And in daily chart there is breakdown of trendline with heavy volume. And recently market is building momentum for a long journey because its in normal support of daily trendline of last fall. So, according to price action there is not any bullish price action and accumulation happens for bullish market. I think little portion of distrubition is occuring and retail traders are making position so market is not going bearish more. So as previously, this kind of thi gs is common. In my view, seller are adding position to ride the market. When i read the chart some selleing footprint i noticed.
sun
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.