Bitcoin Sees Sketchy Weekly Candle, Chances Of Pullback Increasing: Analysts3

Throw in the towel bulls — Bitcoin (BTC) has just printed its first mediocre weekly candle in over six weeks. With this, more and more analysts are becoming convinced that the crypto market is preparing for a drawdown and that a local top is forming.

And despite the fact that some cheery commentators are convinced that Bitcoin still has fuel in the tank, the short-term bear camp has continued to gain members. The intense euphoria of last week’s rally is no more, and BTC bulls have finally begun to relent.

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