stewdamus

Hey bulls, where's your friend volume. Is he coming?

BITSTAMP:BTCUSD   Bitcoin


Just a question. Don't get all up in my grill, yo. But I don't see your man crush. Cuz, if he ain't coming, then why are you asking me to go.

See, the problem here folks, is while everybody is busy calling this inverse H&S, which is supposed to take us through all that massive overhead resistance, I'm just not seeing any volume on the right shoulder. It seems that could be a problem to me.

Because, we're still inside:

- a massive descending triangle (purple) which is inside
- a two month DT channel (blue) of which the top is
- below .50 fib retracement which aligns with
- a bearish weekly RSI below 54 and
- the end of another BTC cycle (the tail end always dips)

So, to me it seems BTC is going to have to go back and find our good friend volume if we are really wanting to go north.

Let's wait for him before we hop on this crazy train, shall we?

Happy trading friends!


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