Let's take a look at 1 year price chart for BTC to illustrate the current edge that exists.
BTC/USD is in long term uptrend and just make a trend line touch at ~7300. It has bounced near this trend line on a handful of occasions during the last year. It has never closed under.
Volume is weakening on each of the three major selling waves which have occurred since early Jan., indicating the sellers are running out of gas.
Getting long here. Looking for buying on volume to add.
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