Contrary to popular opinion the total crypto market cap looks like it wants to correct, on the weekly scale. The RSI, MACD, DIOSC, Volume Weighted MACD and CMF are all signalling a sell on the weekly. A lower number of sell indicators called the top at BTC $65k, which resulted in a 56% total crypto market cap correction. In addition, there is a strong bearish divergence on the RSI (which is even worse on the monthly). Volume on this pump is also low. The conspiracy theorist in me suspects that this latest pump is a fake out rally and that the incoming futures-based ETF may be a topping signal for the whole crypto market cap. A futures-based ETF may allow large corporations who do not like BTC and governments to short the price down significantly. I am not outright bearish here, just very cautiously optimistic on a potential BTC breakout to a new ATH. Be careful with your longs and watch your leverage.
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