Hey bulls, where's your friend volume. Is he coming?
Hey bulls, where's your friend volume. Is he coming?
Just a question. Don't get all up in my grill, yo. But I don't see your man crush. Cuz, if he ain't coming, then why are you asking me to go.
See, the problem here folks, is while everybody is busy calling this inverse H&S, which is supposed to take us through all that massive overhead resistance, I'm just not seeing any volume on the right shoulder. It seems that could be a problem to me.
Because, we're still inside:
- a massive descending triangle (purple) which is inside
- a two month DT channel (blue) of which the top is
- below .50 fib retracement which aligns with
- a bearish weekly RSI below 54 and
- the end of another BTC cycle (the tail end always dips)
So, to me it seems BTC is going to have to go back and find our good friend volume if we are really wanting to go north.
Let's wait for him before we hop on this crazy train, shall we?
Happy trading friends!
There's a ton of money on the sidelines, volume is coming and scarcity is there. Ain't no one selling that bought at the bottom. Why? Because those smart enough to catch are smart enough to hold it. IMHO
@kauaiq, I caught at almost exactly the bottom, following my charting prompts, and I've sold here due to my skepticism. I will await confirmation on this one. I do not mind sitting on cash and losing a little in a move if all the indicators don't align. And so far, they don't. I will buy back in if and when we get solid confirmation of a move upwards. Conversely, I will look to buy back in, if the bears look to stomp through the $8.9k price point.
No wonder your bearish lol. Sorry bro, not enough sellers IMHO.
Here comes your volume bro, its building up a base. Wishing you blessings