The Bears are back in town. We have a lot of indicators converging at this $1,000 level right now. Let's take a look and see whats going on here.
1. Massive that goes back to 2 major points that resulted in heavy turns down in the market
2. at this $1,000 area. This acted as very heavy resistance around feb 4th and it's been keeping it down while we have seen btc rise quicker
3. On the day chart the is down, even though it has turned up. On the 4 hour chart here, it's in positive territory but not very convincing
4. is topping - Each previous top we hit these tops in the and started moving down shortly thereafter. We also have a on the .
I would be VERY surprised if we do not get a pullback from this point. the question will be is how far the pullback goes.
Also, another concern is we have been going up on very low volume.