BITCOIN Small Upside Move Comparisons
Looking at the charts, I just wanted to look at a few things and point out a couple of differences. So, for this move, we can look at the volume. Yes, I harp on volume a lot and that's only because of how significant it is to moves like this. Definitely understand volume.
The last time we saw a little bounce we saw a LOT more upside with a lot more volume. Additionally, there was a lot more follow through. Even still, look what happened to the move. We saw the usual pullback, consolidate, short spike rally, come down and repeat. So, what would it be different this time with way WORSE signals?
For example, 4-hr RSI is now overbought. On the last move, we didn't see this at all. Last time we were overbought was in November, right before the pullback (and we know how that went).
Overall, I think this move is just another small bear flag on the longer path down below $3,000. I'll still need to see a lot of confirmation signals before thinking that this market is turning around yet and we're hitting the bottom.
Thanks for posting todays update , Hoping we are forming the bottom here .. Its been bloody for sure
Looking like the wish came true! bull bounce in the works.
Thanks for providing more detailed information than just price charts. I was a little worried that the bear market had ended when I saw the price spike, but if you're correct then the crypto black friday shall continue.
Yea, when I got up this morning and saw the move I immediately got FOMO of course. But then took a breath and looked what was happening. Definitely didn't jump in and now we're likely seeing pullback.