Economist Henrik Zeberg has cast doubt on Bitcoin's recent price surge, labeling it a temporary 'B-wave' bounce within a larger bearish cycle.
The possible end of a long-term fifth wave near $110,000 could signal the start of a significant correction for the cryptocurrency.
Bearish divergence on the Relative Strength Index (RSI) and a looming Bearish MACD crossover suggest weakening momentum and a potential major market top.