Bitcoin Rally Exhausted, Likely Headed Lower to $4k to $42k Area

The weakness in Bitcoin and inability to hold above the recent highs, plus the current chart action indicates we're likely headed lower, to the $42k to $40k area.

Doesn't take fancy chartwork, indicators, or 'studies' to see what's likely coming, so protect any longs and stay in cash to buy back lower.

Bitcoin needs a rest before running much higher, and the sooner this is done and out of the better.

Open to any counter arguments why I'm wrong, but I've been seeing this and saying this for over a week now.