What's Wrong with This Picture?
The parabolic rise looks familiar..but the volume is disturbing.
In fact the last spike in high volume was 3 months back at around 30K
Who will blink first and realise the buyers aren't out there to sustain substantial selling volume. Elon, Grayscale or the miners?
Whoever decides to go is immaterial o retail investors that the media and trying hard to intice to buy..
My money is on the miners...they have been doing this longer than anyone and have to pay the bills sometime..
Whatever institutional money has bought in between 30 and 40K and have locked it away out of some sort of institutional suicide pact.
Will we close above the double top high for the week...? The weekly volume looks as bad as the monthly..
I have no idea where we are going but my gut is telling me to stay away until volume tells me its ok...and im not paying for the emperors new outfit.
In fact the last spike in high volume was 3 months back at around 30K
Who will blink first and realise the buyers aren't out there to sustain substantial selling volume. Elon, Grayscale or the miners?
Whoever decides to go is immaterial o retail investors that the media and trying hard to intice to buy..
My money is on the miners...they have been doing this longer than anyone and have to pay the bills sometime..
Whatever institutional money has bought in between 30 and 40K and have locked it away out of some sort of institutional suicide pact.
Will we close above the double top high for the week...? The weekly volume looks as bad as the monthly..
I have no idea where we are going but my gut is telling me to stay away until volume tells me its ok...and im not paying for the emperors new outfit.
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