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The Bitcoin price's excursion above the resistance level of 105,000 USD was short-lived. Consolidation has now set in, pushing prices back below this level. Does this indicate a top formation?
Last week, we pointed out the possibility of an upcoming divergence in sentiment. This has now materialised. Con-sequently, the recent weakness in Bitcoin's price is not surprising.
Bitcoins: Foundation laid for a divergence in sentiment
“Take profit” signal
Bullish sentiment