The most recent downtrend traces all the way back to ath
. but as you can see we have been trading in a narrow downtrending channel as of late. There are multiple barriers to prevent a higher breakout, and volume
is still on the decline. Couple the technicals with bearish
fundamentals re bfx and tether (spoof and wash trading/faking money being printed) and we can hypothesize actual volume
to be far less. Looking back at previous tether prints since december, we note a small pump and then price reversal as consistent behavior.