2018-7-1 22:05 |
Bitcoin sits precariously perched at the bottom of the annual market low and many bitcoin investors aren’t sure what to make of it.
However, something to note about this bearish close is the lack of volume and lack of momentum on the follow through.
Overall, the volume is continuing to consolidate and it appears to be within the realm of an accumulation trading range (TR).
But that isn’t what we see at all — we are actually seeing contracting volume as the market continues to push lower.
A creek is characterized by meandering, downward price action which decreases in volume as the market drifts effortlessly downward.
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