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Starting to look like the flip into the corrective mode. You can say hodl all you like, but it's irrelevant at the frothy end of the market, where all the leveraged up, FOMO'd, moonboys piled in. That's parabolas for you.
— dave the wave🌊 (@davthewave) December 8, 2020
A number of other analysts are also signaling caution after recent technical and on-chain trends have come to the fore.
Leading crypto-asset analyst Willy Woo recently stated that the on-chain Bitcoin structure is signaling that investors should be cautious here:
“Bitcoin on-chain structure saying to bulls “thou shall not pass”, not without a reset. A reset means many weeks of sideways or a decent bearish dip. Will we get a dip? There’s no impulse of coin movements that’s strongly bearish just yet. Waiting game.”
Others have shared this sentiment over recent days.