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RE: I'm moderately bearish

in #bitcoin5 years ago (edited)

Yes, you would think so. The books say that a breakout, in order to be convincing, should be of a decent size and accompanied by a clear increase in volume. The idea is, I guess, that buyers must hurry en masse to buy the item at this price. True, for every buyer there is a seller, but still, that's what the theory states. Often, I find this to be correct.

In April 2019 we had one.

And I still think we had one in October, although that one didn't work out.

Now, I'm still not sure, although it's definitely starting to look better.

That said, I believe we're going to see a lot of new money flowing in. It's still a tiny minority that hold's bitcoin.