$BTC 1M Log Scale
There's 2 days left in December so this isn't confirmed yet but if Bitcoin was to close the monthly here you have a very, very bearish technical setup.
In two prior instances of new ATHs with a red topping candle, the following month had deeply red pullbacks (May 2021, Dec 2021).
On the other hand, next month's candle is a new calendar year as well as the month of the POTUS inauguration.
There's 2 days left in December so this isn't confirmed yet but if Bitcoin was to close the monthly here you have a very, very bearish technical setup.
In two prior instances of new ATHs with a red topping candle, the following month had deeply red pullbacks (May 2021, Dec 2021).
On the other hand, next month's candle is a new calendar year as well as the month of the POTUS inauguration.