The whales have taken profits since yesterday by sending their BTC to the exchanges to sell them.
For a few months they have been doing the same thing they sell on the small increases and take out more BTC from the exchanges to their decentralized wallet during the declines, so the whales accumulate while smaller fish capitulate.
After yesterday's H4 close above 20.5K in confluence with the MA62 which has become support, the longs have gone below 50% visible on the funding rate, which is starting to go negative with more shorts, but not strong, seen the last seven H4 candles with falling volumes in divergence with rising prices.
https://coinalyze.net/snapshot/C5WolY6k
The large peak of Long liquidation with Degen leverages towards 20.5K, otherwise it is possible that we will have a small pump to test the trend line as resistance of the bullish channel at 22.5K to 23K until 24K by a wick to trigger Short stops above the latest top.
I try to stay neutral and be ready to both scenarios, to be in the middle is better than being on one direction blindly and losing after a lot, I talk about myself in my early days blinded by one direction, now I'm taking an analysis without putting sentiments, I try to do the pros and cons to finally give a probability to one direction without forgetting the other.
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