Even though we noticed a large green candle with some good volume yesterday, it was reversed immediately by the next candle in the 4 hour chart with a even higher volume, which is an indication of a short selling by big players. As Wyckoff says, they could be testing the market heavily in this area before a smooth mark up phase.

This argument is further supported by today's 4 hour chart as shown below. In addition to chart pattern, MACD and RSI indicators, the volume seems to be low in this zone.
All these data indicates that the bulls are awaiting to kick in and take the price up to the resistance level as discussed yesterday.

Not financial Advice, but analysis only.

Buddika Adikari
More insight to the Crypto Market: https://kaalama.org/Kaalama-De....epDive-Crypto-Whale-

#btc #crypto #cryptocurrency #bitcoin

Enter with Facebook Login