Bull flag and pennant, but other things too bearish

٢٦ مايو ٢٠١٨

I don't know how bitcoin is managing to hold over 7500 for any length of time today. A few hours ago we had a text book bull flag, but the volume was so weak that we only broke sideways out of it. That's not a good sign. Now bitcoin is in a small pennant, but again, the volume is so weak it's hard to imagine it breaking upwards when it reaches the end of the pennant. The Chaikin Money Flow shows buying pressure on the smaller time frames, but once again, the volume just isn't there.