Good evening ladies and gents,
It's been truly interesting these past days for me.
I wasn't around for the past two bullruns and couldn't participate in the shakeout of week hands before capitulation.
From my studies BTC shook the weak hands before the ATH of 1,163 and also shook weak hands on that drop from 4,765 to 2,972 before taking off to 19,666.
OBV here shows an interesting story and a strong support line never broken before. Also it can be interpreted as a huge ascending triangle and would take a long time to develop.
If you follow the numbers you will see that from the breakouts to the shakeouts, buying climaxes to selling capitulation the story repeats. One could never make a flat statement, so I cannot say this is it for the drop. But I can saw that we have a strong line of support and we most likely are experiencing a shakeout of weak hands and retail traders before taking off big time.
Only time will tell, and later I will touch base again about it.
Trade safe, but trade thirsty my friends!
It's been truly interesting these past days for me.
I wasn't around for the past two bullruns and couldn't participate in the shakeout of week hands before capitulation.
From my studies BTC shook the weak hands before the ATH of 1,163 and also shook weak hands on that drop from 4,765 to 2,972 before taking off to 19,666.
OBV here shows an interesting story and a strong support line never broken before. Also it can be interpreted as a huge ascending triangle and would take a long time to develop.
If you follow the numbers you will see that from the breakouts to the shakeouts, buying climaxes to selling capitulation the story repeats. One could never make a flat statement, so I cannot say this is it for the drop. But I can saw that we have a strong line of support and we most likely are experiencing a shakeout of weak hands and retail traders before taking off big time.
Only time will tell, and later I will touch base again about it.
Trade safe, but trade thirsty my friends!