Where'd The Volumes Go???

in bitcoin •  6 years ago 

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We always look at the shorter charts for more details. Here, the 5-minute chart is pictured. One strange thing that's kinda unfortunate is the lack of consistent volumes spread across the chart. Instead, we see a few lone volume bars. Everything else is basically gone.

In chart trading, this is a huge red flag. We were looking for a bit more consistent bull follow through. Seeing only two quick spikes is not the best sign we're looking for in terms of follow through and a strong move.

Since this is highly suspect, I don't have too much extra faith in the market right now. I don't see this as being a trend reversing pattern and I have a high level of caution. I am still thinking there will be some bull action on the horizon due to the crazy oversold conditions lately, but I do still want to see that bull volume come in.

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Thanks for the update , Hoping to see volume pick up and follow through here

we hope!! even if it's small, just wanna see consistent moves and watch those bears go on the run.