As per my last post, I wanted to expand on, we are still seeing rising price without volume to sustain it. This could be an indicator of a bulltrap. I will not rule out the idea, that perhaps a big wave of buying may come in at any point and propel the price action up further.
However, as it stands now, what we are seeing is an anomaly. With rising price action, we should see rising volume.
On the weekly, you can also see that the Stochastic is going into overbought area with no false bar. Again, this could change if the price keeps moving up.
The weis wave in the 5th pane down with the arrow also shows that we are still in a selling wave on the weekly. This could however, suggest that we could get a pullback and then a very impulsive up move.
However, as it stands now, what we are seeing is an anomaly. With rising price action, we should see rising volume.
On the weekly, you can also see that the Stochastic is going into overbought area with no false bar. Again, this could change if the price keeps moving up.
The weis wave in the 5th pane down with the arrow also shows that we are still in a selling wave on the weekly. This could however, suggest that we could get a pullback and then a very impulsive up move.
Join us free on discord through this link discord.gg/CRpDbvDdRx - Preferred intermediate and up, just don't want to explain the basics. Come hang out and talk crypto, stocks, etc!
