BITCOIN: Hesitance and Low Volume

BITCOIN: Hesitance and Low Volume
January 07 22:20 2019 Print This Article

Still volume so small, drawing what is seems to be a shy bull flag after the 5 minutes move upwards yesterday…

Someone may say that is Bullish signal, some may say that it has been only a “manipulation” movement willing to trigger the upwards constant move but…it seems to be only a few big buying orders willing to move the market indeed…

We are still far from being out of danger despite BTC is moving above the 50 EMA oat the 4h-chart…

I’m still considering a final move upwards before correcting long down…

Remember, two options, either BTC crosses the “Neckline” of the inverted Head and Shoulders invalidating my 5-3-5 correction alternate or, of course, we see a last moving upwards rebounding hard on the same Neckline but this time downwards and long…

Manipulation is the “King” these days and unless we see a substantial change of the volume my primary count tells me we have to correct longer…

As I said, I cannot see how volume and EW-count would confirm the triggering of the Inverted Head and Shoulder but… it may happen.

But, as usual, do your own assessment and stick to the plan…if you go for the Bullish Option, place your stop losses in case we go lower… If, by the contrary, you choose the “Shorts” option, I would sell now before whales would decide that the basket is filled… in case that second option would be incorrect you can always buy it and sell higher again in profits but at least you did not lose so much…

Take care and enjoy!

@toofasteddie


*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.


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Too Fast Eddie
Too Fast Eddie

Superconducting Engineer working for the development of the Fusion Energy, Dad, Crypto-Enthusiast and Runner addicted. I am in a "Continuous Learning Mode" as well I am always willing to share my knowledge about the fields and topics related with trading, Cryptocurrencies, Blockchain technologies and Sports, in particular Running and Athletics.

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