BTC Bears in Charge - High Volume Sell-off
Volume analysis shows heavy distribution taking place on the 4H chart. You can see the prior accumulation defined by green volume bars, which led to the price pump. Now we are in a new distribution cycle, price will respond in the downward direction.
Hitting the high volume at the local top reveals large money has sold. Bitcoin will need to swing down and consolidate at a local low next.
Hitting the high volume at the local top reveals large money has sold. Bitcoin will need to swing down and consolidate at a local low next.
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