In this scenario, the volume doesn't seem quite as suspicious as long as you keep an open mind and consider all possibilities. We could very well see a second chance to buy the bottom. To me, this makes the most sense in this point in time. Bitcoin is just consolidating from it's previous ATH.
In lower time frames we see a clear descending triangle after a bull rally that didn't make much sense from a technical point of view to go straight to the moon as everyone believed. . . What we do know is that we see the same robust bullish behavior from the previous bull market with way less volume, indicating that it didn't take much but the bulls fail to follow through.
We also see no follow through with the general interest from google trends and the lack of participation from mom and pop investors. Bitcoin tripled it's price in just 6 months and still didn't raise the eyebrows of the normies.
Like i said before, the price action, sentiment, volume structure, and adoption are all clues that we have been consolidating for 2 years and more to come. Stay tuned. I don't think im going to be wrong about this one, but who knows, I don't have a crystal ball and anything can happen.
In lower time frames we see a clear descending triangle after a bull rally that didn't make much sense from a technical point of view to go straight to the moon as everyone believed. . . What we do know is that we see the same robust bullish behavior from the previous bull market with way less volume, indicating that it didn't take much but the bulls fail to follow through.
We also see no follow through with the general interest from google trends and the lack of participation from mom and pop investors. Bitcoin tripled it's price in just 6 months and still didn't raise the eyebrows of the normies.
Like i said before, the price action, sentiment, volume structure, and adoption are all clues that we have been consolidating for 2 years and more to come. Stay tuned. I don't think im going to be wrong about this one, but who knows, I don't have a crystal ball and anything can happen.