This chart establishes monthly criteria to flip bullish based on price levels and volume.
Current trend is still down since December didn't close above 9.2k
January need to close above 7560 to be considered bull monthly uptrend.
Coinbase orderbooks show serious Bid (buy) support from 6.3 to 5.5k range. Since we didn't see visible volume spike on weekly and monthly it is possible we have more downside to capture liquidity (stops, liquidations and panic sell) and then prop price up for a bull scenario like this.
Current trend is still down since December didn't close above 9.2k
January need to close above 7560 to be considered bull monthly uptrend.
Coinbase orderbooks show serious Bid (buy) support from 6.3 to 5.5k range. Since we didn't see visible volume spike on weekly and monthly it is possible we have more downside to capture liquidity (stops, liquidations and panic sell) and then prop price up for a bull scenario like this.
D7R