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Bitcoin
Short
May 29, 2024
Monthly Chart on Bitcoin signals Macro Top Reversal
7
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With only a few days remaining this month, the monthly chart on Bitcoin is setting up to be very bearish:
As price action has gone up, Market Cipher B is printing a red Sell signal on the 1M chart, signaling a macro top reversal.
If this monthly closure confirms another macro top, bearish divergence will confirm on RSI (top half) and Momentum (bottom half).
Money Flow is also going down, and the VWAP shows a negative decline.
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