BTC - Consolidation Ending? Wait for the volume!
BTC is still sitting in the consolidation triangle I spoke of on Monday. Now we're getting deep into the triangle; as noted on the chart this area is not good for a breakout generally. The psychology of the market changes as consolidation lengthens, and in this case we have seen a big sell wall pop up at as our new upper resistance.
Volume has completely tanked as well. Volume decline + Volatility decline (consolidation) = big move soon.
If we break down I suspect a correction down to 13.4k area at least, potentially 12k, before we continue moving up. Moving up will require serious buy volume on the market with the new resistance wall forming.
Volume has completely tanked as well. Volume decline + Volatility decline (consolidation) = big move soon.
If we break down I suspect a correction down to 13.4k area at least, potentially 12k, before we continue moving up. Moving up will require serious buy volume on the market with the new resistance wall forming.
Come hang out with me on telegram, it's free and I won't be too mean too mean to you:
t.me/KadnimCrypto
t.me/KadnimCrypto
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