The upper half of channels are for selling into retail.
Volume peaked before ATH, flatlined, then declined.
There have been no "massive" in-, or out-flows, since about 20k.

We're advancing on the same amount of volume used to sell the ATH, and begin the bear market... because this is the same bear market!

The couple of vectors from 16k (channel 0.5ish) seem to have worked perfectly, since retail is still longing >100k, over a year later.

The only reason we came up here is to sell those vectors.
MM could dump to 20k in one bar and still sell what's left in profit.

Where did the lower half of the channel go?
Then 2024 happened...
Economic CyclesParallel ChannelSupply and Demand

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