Confluence between harmonic pattern+fib+volume areas
Once the price faces rejection at weekly timeframe (with decisive volume resulting in wicks) at a fib level such as the 65k and subsequent 52k as shown then it's highly unlikely for btc to recover fully to those local highs until the next bull run cycle. Furthermore look at the declining overall volume with increasing red bars and decreasing green, the volume unbiasedly is saying that distribution is going on.
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