Analyst Nicholas Merten expresses bearish sentiment on Bitcoin, predicting an imminent correction due to its failure to rise above the $71,500 to $72,500 resistance level.
He highlights market complacency and significant selling pressure from large holders (whales) as warning signs.
Bitcoin has been consolidating around its previous all-time high of $69,000 for over three months, indicating heavy selling activity.
What do you think?
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