BITCOIN NOT QUITE THERE YET! (CRUCIAL VOLUME LEVEL)
Hey Traders,
As you can see Bitcoin did not quite break 12k today. A possible reason for this is because the 2nd largest amount of volume in Bitcoin was traded at 11.6K according to the Volume Profile. It is going to be hard to breakout of this level and we will need additional bull volume.
On a positive note, I don't expect bitcoin to go much lower unless market sentiment turns bearish. I'm predicting a lull phase around the 10K-11.7K level for a few days while building consolidation.
If bitcoin does break 12K expect a quick runup to $13,630 due to the thinner volume traded between bitcoin 12K and 13K.
Know your investment strategy, plan your entry and exit, and safe trading!
Best,
Ryan
As you can see Bitcoin did not quite break 12k today. A possible reason for this is because the 2nd largest amount of volume in Bitcoin was traded at 11.6K according to the Volume Profile. It is going to be hard to breakout of this level and we will need additional bull volume.
On a positive note, I don't expect bitcoin to go much lower unless market sentiment turns bearish. I'm predicting a lull phase around the 10K-11.7K level for a few days while building consolidation.
If bitcoin does break 12K expect a quick runup to $13,630 due to the thinner volume traded between bitcoin 12K and 13K.
Know your investment strategy, plan your entry and exit, and safe trading!
Best,
Ryan
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