Bitcoin price action
Chart analiysis: Bitcoin 1D chart forming a morning star candle pattern (bearish), volume descreasing (breakout needed), sotckhastic RSI in overbought area (bearish), 20 EMA making resistance (bearish), possible RSI support (possible bullish), Bearish flag froming (bearish), 40,000$ resistance (bearish), Possible Falling wedge forming (bullish but not for this month).
On chain analysis: Whales accumulation, to much people betting on shorts with high leverage, short term holders underwater profits, high amounts of puts instead of calls (bearish).
Fundamental analysis: Macro view bearish from Fed at all markets with the increase of interest rates and ending of money printing what takes desacelaration of the economy.
Conclusion: Down trend continuation or possible short squeeze (drastic price increase in short term).
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