Some notes on volume and price from December 2020 to August 2021. Major notes: - Price can rise even on falling volume. It just means the market remains in a fragile uptrend. - See price increasing from Jan - May even though volume was trending down. - End of May to start of August 2021 price remained at bottom of range (white lines) but volume started to trend up showing accumulation. - Large Wyckoff distribution. Higher high 3 times to 64K top, then paints a lower high before massive price crash in May 2021. - Enters into stagnant May to August before breakout.
Prediction: - August will consolidate around 40K and then move to higher highs for latter part of year. 100K + still looks in play. Needs to break above 42K before the trend change is confirmed.