BitcoinShort
BTCUSD / Strong down pressure. Price + Volume Analysis.
Focus your attention on the price movement and volume. The first price movement down and reversal up ~$2,800 was done with "little effort" compared to the current reversal. The volume required to push price up ~$870 required much more volume then the ~$2,800 move. This is quite possibly a sign that selling pressure is still too strong for a reversal. The bulls are going to need a lot more volume to continue to push up price. I suspect at this current rate of upward price movement + required volume, the bulls will be exhausted and another leg down + capitulation will occur. Remember to always analyze the price movement with the effort/volume. How much effort is moving the market? It's requiring a lot of effort right now.
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