I have been observing this closely.
What I see is use now going to a third retest of a C19 lows forming a triple bottom and effectively indicating end of this bullish move that had carried across since Sep last year.
As we are entering triple-tested overbought condition on
SPX
believe we are holding the final straw waiting for a market catalyst that wil send prices lower.
I also put this in the context of recent wall-street driven
BTC
rally and general market anticipation of 40K price milestone and heavily overbought conditions on low volume similar to the double top the past bull market.
What I see is use now going to a third retest of a C19 lows forming a triple bottom and effectively indicating end of this bullish move that had carried across since Sep last year.
As we are entering triple-tested overbought condition on
SPX
believe we are holding the final straw waiting for a market catalyst that wil send prices lower. I also put this in the context of recent wall-street driven
BTC
rally and general market anticipation of 40K price milestone and heavily overbought conditions on low volume similar to the double top the past bull market.