Everything seems to be pointing at price exhaustion.
In the big picture of things (on a weekly/monthly TF) we have what’s referred to as a “CHoCH” (change of character) to the upside of our , divergence with price. This is CLEAR institutional markup and the beginnings of what I see as a BEAR MARKET.
Of course CONFIRMATION of this thesis is a must, and may show in the form of 2-3 trading ranges (double or triple top confirmations).
Something a little interesting to observe on the small timeframe on the screenshot below:
This already has had a CHoCH with a break below the channel. What you should be looking for is something like this to happen! Keep your eyes out for increasing to the upside after the breakdown from this channel (retracement):
Then short the PISS out of Bitcoin …