Using on-chain data.
Exchanges BTC reserves is falling.
Where in a formation of a rising wedge, which is a bearish pattern and could lead us to break support and test critical demand levels.
It looks like Coinbase & Gemini whales have accumulated more BTC in the critical demand area high lighted in red.
I think we have seen the natural 20-30% correction, and can continue upwards from here.
Critical demand: 47,000-48,000
Critical support: 44,800 - 46,000
Exchanges BTC reserves is falling.
Where in a formation of a rising wedge, which is a bearish pattern and could lead us to break support and test critical demand levels.
It looks like Coinbase & Gemini whales have accumulated more BTC in the critical demand area high lighted in red.
I think we have seen the natural 20-30% correction, and can continue upwards from here.
Critical demand: 47,000-48,000
Critical support: 44,800 - 46,000
