BTC – waiting for more (positive) volume
Updated
Hi Traders!
We had a nice bounce up within the last 24 hours but… yeah with a very small volume, unfortunately.
We touched the price of the last peak which is at the level of $6860 and the price has stopped.
We may encounter small correction right now but we think we shouldn’t go any lower than $6200.
The good news is that we are over TenkanSen and Zero Lag EMA.
On the accumulation chart, we are still in the uptrend but it goes a bit too slow. Still direction is good.
Crucial level to break up for good is $6800. Once we break is with a couple of day bars we can acknowledge that we have a trend reversal.
On Weis Volume we can see literally no volume. We think everyone is like crouching tiger hidden dragon ;) waiting for the market’s move or at least for the SEC announcement regarding ETFs.
Only 3 days left for this BIG news.
We have 3 options here.
1. They approve some application – the best option as it makes the way to open fully regulated ETFs and expect institutional money flooding in.
2. They postpone their decision. This makes a bit of panic for a while but afterwards, there will be a hope looking for the next term in order to
hear something positive.
3. The reject all the applications. There will be panic and massive sell on the market.
So guys. We are all ears right now waiting for hopefully positive news.
Thank you for being here and being part of this community.
Don’t forget to like and follow if you like our job.
MASSIVE Hugs! Take care.
WBM Team.
We had a nice bounce up within the last 24 hours but… yeah with a very small volume, unfortunately.
We touched the price of the last peak which is at the level of $6860 and the price has stopped.
We may encounter small correction right now but we think we shouldn’t go any lower than $6200.
The good news is that we are over TenkanSen and Zero Lag EMA.
On the accumulation chart, we are still in the uptrend but it goes a bit too slow. Still direction is good.
Crucial level to break up for good is $6800. Once we break is with a couple of day bars we can acknowledge that we have a trend reversal.
On Weis Volume we can see literally no volume. We think everyone is like crouching tiger hidden dragon ;) waiting for the market’s move or at least for the SEC announcement regarding ETFs.
Only 3 days left for this BIG news.
We have 3 options here.
1. They approve some application – the best option as it makes the way to open fully regulated ETFs and expect institutional money flooding in.
2. They postpone their decision. This makes a bit of panic for a while but afterwards, there will be a hope looking for the next term in order to
hear something positive.
3. The reject all the applications. There will be panic and massive sell on the market.
So guys. We are all ears right now waiting for hopefully positive news.
Thank you for being here and being part of this community.
Don’t forget to like and follow if you like our job.
MASSIVE Hugs! Take care.
WBM Team.
Note
Accumulation/Distribution zoom 
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.