A reversal seems likely, so we should anticipate a pullback. The trading volume is decreasing while exchange volume is increasing, which suggests a potential market top based on previous trends. Greed is also on the rise. Although history doesn’t repeat itself, it certainly shows similarities. The BTC/GBP chart is indicating a double top pattern on the daily timeframe. An altcoin season may be approaching based on the ETH/BTC pair, signaling that the end of Bitcoin’s dominance could be near.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.