Bitcoin looks like it's currently coiling up for a move. Technicals say this is most likely to the downside but after a 50%+ correction, history would say otherwise. Some catalysts on the horizon:
- Most recent move was a large leverage liquidation to the downside. All the greed is out of the Market.
- Fear & Greed Index reads "Extreme Fear"
- The BWord Event coming up July 21st where Elon will reverse course on BTC with discussion with Jack Dorsey due to the mining ban in China, Hashrate drop and chance to re-position.
- BTC is starting to challenge the upside of the descending resistance more frequently.
- RSI is running out of room on the daily to continue down.