Looking at this chart, is it bullish or bearish to you?

I guess it depends on what you see...

(Source: https://www.ccn.com/news/crypto-twitter-bull-bitcoin-bear/2019/07/26/)

For the first time since the surge started, prices are under the vwap.

Volume Weighted Average Price

That means that more people are underwater on their positions than not for recently entered positions.

That could cause them to cut losses soon sending prices spirally lower.

I think we see it play out with prices dropping to $8k or so.

I will be ready there.