Bitcoin price on monthly chart bounces up (orange arrows) after it’s price touches the uptrend line (Blue & Pink color trend lines).
Almost each time price moves back down to the uptrend line, volume also lowers around 55 (see the blue Color 55 volume line) followed by increase in both price and volume.
Bitcoin price is currently touching the blue uptrend line with low level volume. The real question is whether it will touch the second uptrend line in pink prior to going back up (green arrows). If it decides to touch the second pink uptrend line then it will encounter major resistance around 7700 price (green line).
The October 2019 volume was nearly low around 55 as seen many times prior to price moving up from the trend line. Shortly after middle of the November 2019, price touched the first uptrend line (blue color).
Current Bitcoin price touching the monthly uptrend line with low volume appears to be getting ready for another bull run.
Almost each time price moves back down to the uptrend line, volume also lowers around 55 (see the blue Color 55 volume line) followed by increase in both price and volume.
Bitcoin price is currently touching the blue uptrend line with low level volume. The real question is whether it will touch the second uptrend line in pink prior to going back up (green arrows). If it decides to touch the second pink uptrend line then it will encounter major resistance around 7700 price (green line).
The October 2019 volume was nearly low around 55 as seen many times prior to price moving up from the trend line. Shortly after middle of the November 2019, price touched the first uptrend line (blue color).
Current Bitcoin price touching the monthly uptrend line with low volume appears to be getting ready for another bull run.