$BTC - Bearish Triangle, Soon Impulse

The price is following our previous analysis and entering the triangle with the horizontal bottom. As you can see, bulls powers are decreasing (every top is lower than the previous one), while bulls are quite strong. We expect a decline in the price and breakdown of supports.

But let's speak about other factors as well. During the recent dump, there were liquidated LONG positions for more than $50mln, but when the price grew up to the points where the dump started, there were liquidated only $6mln. According to this data, we can conclude that this dump was made to hit stop losses and liquidations, so whales were able to fill their LONG positions. On the other hand, we have a bearish pattern on the chart - a triangle with the flat bottom.

Therefore, according to the TA we should go lower, but according to the Psychological Analysis (PA), the market should go upward. What can I say for sure? First of all - the closer price located to the end of the triangle - the stronger would impulse. Supports and resistances are mentioned on the chart. By the way, I didn't draw any arrow on the chart, because I currently stay without any opened position. This analysis was made because I've received a bunch of requests.