Hard to break 9500~9600 without an increasing of bullish volume
Yesterday, i told that the resistance around 9200 is not easy to break, however, the price pumped slowly with a low level of bullish volume. The response of bulls are quickly, it's out of my expectation, as this pullback didn't accompany with a period of rest, this means that retail investors still try to push the price to a high level but the main force didn't participate until now, and it's possible that the main force may suppress the price down after the retail funds are getting weak, certainly, it can be also an action of main force to attract retail investors to believe the bullish will continue, therefore they are using a low level of funds to push the price slowly up, after more investors think that the price may create a new high, main force will selling and leave the market, then it's another waterfall.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.