Bitcoin is in a clear downtrend and below key moving averages like 20 WEMA, 34WEMA and below EMA ribbon and below previous low which is 98k. Now it is forming and ascending wedge pattern on 4H time frame which is very bearish. Fundamentally DATs are cooked, No ETF inflows (Mainly outflows), Whales still selling, Gold took the crown of hedge for money printing and with tokenized gold it becomes clear bitcoins narrative has being proven wrong. Until people accept bitcoin as a proper hedge downtrend will continue. Probably can buy bitcoin once Strategy start selling.
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Disclaimer
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.