I'm definitely bearish on btc for the next month or so, I've been scalping short recently and with the completion of this most recent weekly bar as a giant range doji that is almost entirely made of wicks I am considering holding some of my shorts for intermediate term swing trades.
There is a giant pocket of low volume below the recent price action because BTC ran up without taking any breathers and build bases along the way. That means that the people who bought at the top are likely to start to get stopped trigger cascading stop runs that do not have existing high volume nodes to catch price.
So I am going to be selling rallies until it gets to my longer term buy zone and builds a high volume area there.
There is a giant pocket of low volume below the recent price action because BTC ran up without taking any breathers and build bases along the way. That means that the people who bought at the top are likely to start to get stopped trigger cascading stop runs that do not have existing high volume nodes to catch price.
So I am going to be selling rallies until it gets to my longer term buy zone and builds a high volume area there.
