Short

Bitcoin might form a local top!

Bitcoin is currently struggling hard with the 44k resistance. We saw multiple rejections at this important level. We already had a top at 44200 which was followed by a retest of 40k. If we roll over again and breakm down from this sideway-channel then we got a double-top. This double-top would be very bearish and could lead to a local top like we saw it in previous bullruns. If this happens I expect a correction between 20-30% which is absolutely normal and healthy for the market. Altcoins like Solana which are way too overbought at this moment can drop more than 50%. The Bitcoin ETF in my opinion will be a sell-the-news-event because its already in the price.

HenrikDaCrypto

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