Really don't know if the market is bullish or bearish, but for a healthy and sustained growth there is at least a correction necessary.
We are about to reach 0.618 fibo level (measured between 11.5k and 6.4k) which could be a good start for the correction.
We can see bearish divergences with higher prices and lower MACD and RSI. 1hr and 4hr RSI overbought, Stoch...
I remember the last time we had a steep rise, everyone got bullish and then rejected by the double top.
Does not have to repeat, but possible.
- low volume at the 9k resistence
- daily Stoch RSI overbought
- MACD cross on 4h
- many red volume bars on lower timeframes
- rising wedge
Think we need more downside to start a new bull run.
Could also go up, BTC...