Hey everyone,
Just a quick update here - it's important to look at the volume to identify whether a pattern is breaking down or if it's a fakeout. There are probably 99 out of 100 TV traders posting bearish takes but without analyzing demand properly. The volume on the recent 1H candles are some of the lowest in this entire bull market so far that began in earnest in November.
Currently BTC is still moving around a larger symmetrical triangle which does have upside bias in a bull trend so don't fret when it tests the lower line on extremely low volume like now. The most recent news of Goldman entering the bitcoin and crypto world couldn't be more bullish - this will bring in tons of institutions to turn on the buy button come Monday when traders and firms open back up... we're probably already getting a trickle this weekend from some medium sized hedge funds. This news is some of the biggest to come forward so far. Goldman is a top 10 Global Bank by Assets and is the first major US Bank to actually directly announce custody.
Just a quick update here - it's important to look at the volume to identify whether a pattern is breaking down or if it's a fakeout. There are probably 99 out of 100 TV traders posting bearish takes but without analyzing demand properly. The volume on the recent 1H candles are some of the lowest in this entire bull market so far that began in earnest in November.
Currently BTC is still moving around a larger symmetrical triangle which does have upside bias in a bull trend so don't fret when it tests the lower line on extremely low volume like now. The most recent news of Goldman entering the bitcoin and crypto world couldn't be more bullish - this will bring in tons of institutions to turn on the buy button come Monday when traders and firms open back up... we're probably already getting a trickle this weekend from some medium sized hedge funds. This news is some of the biggest to come forward so far. Goldman is a top 10 Global Bank by Assets and is the first major US Bank to actually directly announce custody.