BTCUSDBTCUSDT I can finally throw a bone to the bulls a little bit here. These wicks of buying pressure off of the POC of this micro range is ideal to visit the VAH which we have touched in two 4 hour candles now. This does mean that despite really low trading volume, buyers are meeting the demand necessary to keep price up here.
However, in order to really start thinking we can go higher and sustain another leg up anytime soon, we need to see that exact same price action above 106k and 106.8k after grabbing liquidity up to 113k. Because as it stands now we have not went above 106k for any reason other than shorts being quickly liquidated with price deviating back below the VAH very soon after.
Your major problem is that the volume is so low that if sellers step in heavily all of a sudden, price is going to come down really quickly. A quick wick to 113k allows for a massive amount of selling to take place into the guaranteed volume of short liquidity that is located from 107.5k to that level.
BTCUSDBTCUSDT With these little 5 min bull divergences still coming we are likely to make a new little peak above VAH. Volume is so low that bing bonging back and forth makes sense.