Darkcast: Bitcoin is in a pullback channel and needs to wait for moving average signals and wave patterns to complete

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CryptoQuant analyst Darkfost stated that Bitcoin is in a pullback channel, with prices below the 21 day and 50 day moving averages. On November 21st, the moving average formed a dead cross with the 200 day moving average, which was above $72930. RSI momentum continues to be weak, with bullish divergence signals appearing on the daily chart and RSI entering a reset phase at the weekly level. From the perspective of the Elliott Wave, the C-wave is still ongoing, and a short-term rebound may hit around $68000, followed by a downtrend to complete the correction pattern.

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