Decided to move to BTC-USD -0.54% for second attempt at analysis, since it drives the market. Hearing a lot about lower trade volume following the media hype of December, but the OBV has yet to drop below Dec 1st levels. The end of a bear market usually happens when skepticism starts to spread, and I'm seeing a lot of that lately. In the short term, I have it remaining at consolidation support levels, but I'm watching volume signals going into February for a potential bounce. I don't see the "bubble" popping any time soon with this maintained level of trading. Everybody loves to slam the Short label on their charts, but I'm focusing more on my longer term strategy with this one.
Please feel free to critique and comment, I am still figuring out the TA strategies that work best for me through the current bear market.
UPDATED: Added Adam & Eve Double Bottom indicator to support medium term upward movement.
Price action moved into the center of watch zone. Watch for high volume off support levels to signal a reversal, otherwise we're going digging.
Personally I think we'll hold somewhere in the lower end of the watch zone, then attempt a bullish exit. Watch closely, many had BTC booming in middle Feb at the year start.
Personally I think we'll hold somewhere in the lower end of the watch zone, then attempt a bullish exit. Watch closely, many had BTC booming in middle Feb at the year start.