The tape is being painted and it is being walked down ... the idiot TA traders, chart followers and weak hands fall for it every time. At some point though the real bitcoin supply dries up and it doesn't matter what the charts are saying, they are all gone ... short that shit and you're dead.
Funny how no permabulls showed any concern about the "tape being painted" when the price was going up.
Because there is an infinite supply of dollars.