What is happening is due to a kind of lag. On large timeframes there are already heavy signs of further declines. But in the ranges of 1-4 hours there is a reserve for up movement, so those who try to make a global picture on the chart of 1 or 4 hours are very risky.
But this upward movement with low volumes is nothing more than discounting an expensive price in impatient hands.
But this upward movement with low volumes is nothing more than discounting an expensive price in impatient hands.
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It is very important for decline right now that a very large number of people do not see the warning signs, and are confident that Bitcoin has survived the retest. What's happening right now is nothing less than the transfer of precious coins into impatient hands. Even BTC can jump to 54K, that won't stop you from retesting 40K or even 34K later.Note
The volume flow indicator on the 12 hour chart has been very accurate this year. The slow line (blue) has moved into the bearish half. Look at how long the previous period lasted, how long it takes to reverse for this event. The higher the timeframe, the more stubborn the indicator message.
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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.