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FireCharts binned CVD shows Green TWAP selling ~$25M of $BTC on @Binance over the last 6 hours. Not surprising considering the exodus of EU customers. Bid liquidity has moved up to $59k, so the order book can absorb the next $25m before price breaks down deeper. #BTC, is the correction enough?#
Don't get fooled by this pattern! Death Crosses are lagging indicators and while they do often signal a continuation of a downtrend, the Death Cross pending (next week) between the 50/100 WMAs on the $BTC chart has a different history. It's occurred once in every cycle, and it has historically marked a multi-month consolidation range that established the macro bottom of the bear market. It doesn't have to happen the same this time, but so far Bitcoin PA is tracking similarly to prior cycles. Do you think we are about to enter the final consolidation range? If so, what are your expected range boundaries? #BTCCharts#