ALL above 30k was "fake ETF" pump. A.k.a. "pumpvember" is over, expect lower prices and bearish priceaction. About "sell to blackrock" argument. You are selling to "not so smart" money. I suppose blackrock and alike entities are shortselling, too, but it would drop prices immediately to near zero... or would be bought by somebody with bigger pocket. So they are...
We can see some OBV divergence, Lower high, also highest volume is at highest price peaks. We must wait and see price go below 30k then retest back 30k, then you can consider taking a short. Wait until VSA "mushroom" is formed - the longer it would take to form - the weaker. This scenario is only valid if it will do exactly how i described above.
Lowest volatility. This is Wyckoff Last Point Support. Bullish as Hell. Buy all out. See you up there above 30k. Stay safe and have fun.
Here you can see very strong bullish price action. In previous (lower prices) days 25k-27k there was bullish volume so it is time to leave this price range. See you above 30k. Have a nice year. Yes, probably, to the end of the year it will get close to ATH (~75k) and break it, because there was enough price ranging.
We're about to face upthrust phase which could last from a few days to a few month. That bearish bar on chart marked a zone in which price shoot and fell below. Now it is about to do the same, but possible it will overshoot above and stay there for a few month. THAN it is time to consider buying some coins (depending on market conditions of course). P.S. DYOR.
Some VSA stuff regarding current trading range 1st Upthrust into 35k+ area on major volume which is right in the middle of UTb on the left side which is previous supply zone. Which itself means SUPPLY. Upbar after that on even higher volume with no result. That's supply, too. 2nd Upthrust goes further down on HIGHer volume. Lower than 1st UT, confirming...
Hi, there. Time for some VSA stuff. Let's roll. So, i did some basic bars described on chart. IMHO it's bullish as hell, but you shouldn't that why it does the things it does. It's freaking back. Why? Lock more bulls. But don't worry just read what the chart tells you to do. It's important to understand why things happen the way they do, that's why i share my...
It's possibly going to shakeout weak hands if there are any left (scale/volume of shakeout will depend on how many there are), then it'll flat/push through resistance and markup. You got enough weakness on chart from mid-may. Retest 29k is pretty possible which corresponds with January 2021 preliminary supply and there you have 29th january bull bar (32k-39k).
Somewhat bar by bar analysis on chart. I wouldn't advise you to go short. It has to go below 55 to retest for supply will see then what. Or even retest supply below 53 to make sure that supply is no more.
15 march it fell because it was weak - 13-15 march was selling Now it is down trend (global is bullish ofcourse). And on 16-17 it met resistance. No bullish moves, so it is weak. But it didn't fall because of demand (up move on low volume). So It is weak now also there was several upthrusts lately. In order to fall further it had to step up to fullfill demand...
Clear NoDemand on chart. Not shorting cause we're already almost near shakeout zone. Well, it has to be mo testing because the price is serious. Upon testing we should see more clear picture. No hurry.