The failure to generate new highs signals the start of the distribution phase. This phase displays rangebound price action similar to the accumulation phase but marked by smart money taking profits and heading to the sidelines. In turn, this leaves the security in weak hands that are forced to sell when the range fails in a breakdown and new markdown phase. This bearish period generates throwbacks to new resistance that can be used to establish timely short sales.
Price can go around 25000 and then falls back. It looks like a fake pump. Bearish divergence as well.
Price can go around 25000 and then falls back. It looks like a fake pump. Bearish divergence as well.
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WILL BE CONFIRMED IF WE'LLLL FALL BACK DOWN IN THE CHANNEL.
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WAITING!!
WAITING!!
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