After a strong rally creating a peak, BTC did not enter an accumulation phase but quickly fell into a correction. The RsiSE appeared exactly at the peak indicating that buying pressure has reached its maximum threshold. The current rebound occurs in a context where the RSI cannot return to high levels, proving that new money is not participating. The price structure clearly shows lower highs, with each rebound being sold off immediately upon hitting resistance.
This shows that the bears are still in control of the game. The current green candle mainly serves a technical correction after the drop, not a trend-leading candle. When the RSI does not agree with the price, there is a high probability that the price will need to adjust further to balance supply and demand.
