Buys fail to show required enthusiasm for upwards consolodation

As buyer volume continues to diminish as it did through Jan 10th, we began a promising uptrend from an 8K bounce on the 11th (EST), , only to continue the downtrend in buyer volume during green candles.


Main points:

• BTC may be in a bullish formation however this is not the time for going long.
  
• If we trade above 8200 again, it will be short lived, as we will be retracing to 7750-7850 to test buyer support. This will be a home stretch prime time. If we break 7.7k-7.8k and continue downwards, we may be looking at 7.2k.
  

IF WE BOUNCE 7.7k, we will be retesting 8k - 8.1k. I personally believe this is where we will find breakout IF there is a breakout to be found.

Only time will tell, until then, I will be going short.

Comment:

New hour candle begins.

Comment:

8220 shows pushback

Comment:

As anticipated, time over 200 is short live with little faith moving up to support the order books.

Comment:

The steady retrace from prior pullback on the eighth may cause 7.7k bounce to increase ~ 7.9k

Comment:

Persistent arent we

Comment:

close hour below 8137 we retrace

Trade active:

My butt is clenched