The first dump (rectangle) was higher volume and also longer-sustained than the second dump (rectangle). This indicates that sellers lost confidence upon returning to that range after the first bounce. Sellers did not want to dump into buyside pressure the second time.
This does not indicate we are heading back to $8,000+, but it does indicate that we might see an attempt at 8k. When seller exhaustion is profound, buyers will eventually gain confidence and re-enter, creating an upwards pressure on price.
Went long at $7,550 and ETH $238.
This does not indicate we are heading back to $8,000+, but it does indicate that we might see an attempt at 8k. When seller exhaustion is profound, buyers will eventually gain confidence and re-enter, creating an upwards pressure on price.
Went long at $7,550 and ETH $238.