Momentum turned bearish some time ago, yet price trends higher against momentum, creating bearish divergence. Now, on 4hr timeframe, Price has also put in bearish market structure. We just had the launch of the CBoE futures contract, which caused BTC to fart a bit above it's ATH, before discovering that big money has no appetite to pump this further. Same old, same old, buy the rumour, sell the news. CBoE/CME futures already (over)priced in. Here is where the little man gets slaughtered.