The low volumes indicates fear/uncertainty in the market and these heavy players/firms/whales are just priming for the best moment to unload a wave of panic down the Permabulls throats.
Of course this market is being manipulated.. but you have to understand that every single asset is manipulated by big players for their own agenda/game. It's nothing new and really not worth mentioning.
As a trader you have to know the absolutely worst outcomes along with the best.
The Long term view is that we finish A somewhere around 5.5 - 6k, go up for a minor B to 7k then retrace for the final leg down to 4.8-3.8k. (fingers crossed that's it)
Keep in mind that if we do not recover from the 5-6k area.. then 4.8-3.8k will be your first bounce, up too 6-7k then down for the worst C wave this crypto space will endure... And if we do not recover past the 1.3-1.8k levels...then I'm sorry but Bitcoin's longevity of "THE BIGGEST BULL MARKET THE WORLDS EVER SEEN' will be in the dark for quite a while. This is the real stuff and you need to be prepared for the worst outcomes.
There is hope still... I'm waiting for a recovery.. preferably V shaped with ridiculous buying . We are all impatient so when the traders see the signs of reversal, you will really understand how the next season will be.
But.... Be careful catching a falling knife that's dipped in oil , 2000 degrees hot moving at the speed of sound. :)
Find correlating targets in all these time frames and watch the magic ensue.
Once you are experienced with these higher time frames, it is a very good idea to work your way to the 15-30 minute time frames to start day trading if you have the time.
Once your skills are mastered, try your nerve scalping the 1-15 minute charts, this is how an analyst perfects his skills! Never try to play these time frames without an extreme amount of knowledge and understanding otherwise the veterans will eat you up. (sharking)
I am a swing/day trader. :)
On the other hand bulls are holding their ground, strong no trade zone until an impulse shows the direction BTC wants to move.
Don't FOMO unless we have another Monster green volume day, otherwise this is nothing but a short squeeze, don't get sharked people.
Although the 2018 bullish bullrun dream of defying oversold conditions and pushing to ridiculous numbers is not off the table, just extremely unlikely right now! GL<3