There are some similarities compared to the price action one year ago.We have a similar strucuture, which is a Rounding Top. This pattern appears when a market is overbought and buyers getting exhausted. Combined with a decreasing volume, we can spot a very likely short-term trend change like last year.
Additionally, we have very low volume compared to last year. This basically means that there's less interest in buying Bitcoin at this price. In terms of an end of the short-term correction, the price will look for a floor where enough buyers join the market. This level is likely below the $50.000 area.
Additionally, we have very low volume compared to last year. This basically means that there's less interest in buying Bitcoin at this price. In terms of an end of the short-term correction, the price will look for a floor where enough buyers join the market. This level is likely below the $50.000 area.
