we can see that price action of this sort has been previously seen at tops.
typically there is an increase in sell volume near this area; however, we can see that sell volume is actually DECREASING along side buy volume.
keep in mind we are at a breakout point in eth (and in crypto in general), as this may be the reason for the lack of sellers here.
people are scared to sell because they expect that price may continue to go up.
this is typically how bull market starts.
we have been in bear market for a long time, in fact my entire crypto career has been in the bear market (minus a few months). and learning to trade in a bear market was tough, but i believe the next couple years will make it all worth the while.
although we may see more downside, if we don't see a flip on my volume aggregator tool, i believe we are in a bull market.
there is nothing wrong with shorting at the current state, but don't be looking to hold on to short positions for very long.
hope this was useful.
not financial advice.
stay safe.
typically there is an increase in sell volume near this area; however, we can see that sell volume is actually DECREASING along side buy volume.
keep in mind we are at a breakout point in eth (and in crypto in general), as this may be the reason for the lack of sellers here.
people are scared to sell because they expect that price may continue to go up.
this is typically how bull market starts.
we have been in bear market for a long time, in fact my entire crypto career has been in the bear market (minus a few months). and learning to trade in a bear market was tough, but i believe the next couple years will make it all worth the while.
although we may see more downside, if we don't see a flip on my volume aggregator tool, i believe we are in a bull market.
there is nothing wrong with shorting at the current state, but don't be looking to hold on to short positions for very long.
hope this was useful.
not financial advice.
stay safe.
