BCH BSV BAB Low volume and triangles
Updated
I actually did not want to make an analysis on these 2 but since many people have asked me to i will give it a try. The reasons i did not want to do it myself is very simple, there is not enough data to analyse these 2, only 3 weeks of data. But i will give it a try. My second reason is, i honestly do not even want to waste my time or energy on something that is being used like a little toy by an elite few who simply just do whatever they want and have been the catalyst for the dump the crypto market had the past weeks. I hope these people are very proud of themselves for proofing the world that crypto is not decentrale as it is on paper.
On the left we can see a triangle in the making where the volume is dropping as well. Usually this means we can see a break on the downside. But that blue circle shows a possible bear trap move, indicating some big players might be accumulating here in this triangle. So only if we break up with high volume, this story might be true. That red zone is a clear resistance level.
On the right we can see an inverse H&S brought the price to the current levels and from the looks of it we broke upwards from that triangle. But there is no volume at all there. That tells me this breakout will most probably fail. Unless it can stay above the 95ish and still make another move up this week with high volume. Otherwise i think it can test the 70ish zone again.
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On the left we can see a triangle in the making where the volume is dropping as well. Usually this means we can see a break on the downside. But that blue circle shows a possible bear trap move, indicating some big players might be accumulating here in this triangle. So only if we break up with high volume, this story might be true. That red zone is a clear resistance level.
On the right we can see an inverse H&S brought the price to the current levels and from the looks of it we broke upwards from that triangle. But there is no volume at all there. That tells me this breakout will most probably fail. Unless it can stay above the 95ish and still make another move up this week with high volume. Otherwise i think it can test the 70ish zone again.
Please don't forget to like if you appreciate this:)
Note
The triangle on the left of BAB has been broken again, don't know if that same bear trap move will work again, so looks quite bearish now. Only a move back inside the triangle can save it.On the right for BSV we can see once again, how important volume is during breakouts. Still did not make a big drop, but i think if Bitcoin drops a bit more, this one might play catch up to the downside.
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