We have a monthly doji print in the charts for BTC. Before we get all doom and gloom, let's look around a bit to the other market tops. Bollinger bands and volume is in the picture. I have circled the prior tops. What do we see?
1. Volume spike on the month that price topped
2. The following month price did not create a higher high even on the wick
3. Full confirmation of top is when price closed inside the Bollinger bands
4. Tops were never a doji
We don't see any of those things yet. But if we have continuation to the downside in May and get a candle closure inside Bollinger bands, we might have to start thinking doom and gloom at least for the mid term.
1. Volume spike on the month that price topped
2. The following month price did not create a higher high even on the wick
3. Full confirmation of top is when price closed inside the Bollinger bands
4. Tops were never a doji
We don't see any of those things yet. But if we have continuation to the downside in May and get a candle closure inside Bollinger bands, we might have to start thinking doom and gloom at least for the mid term.
