I have absolutely no idea what to make of this
The triangle has been pierced on both sides, however I feel the volume for the drop was far too low to indicate a bottom, and volume for the rally is almost nonexistent. Perhaps the triangle has been rendered obsolete, and this is a retrace of the still-relevant downtrend?
i'm no market expert or anything, but couldn't the low volumes at the bottom be fuel for an even bigger rush?
Consider this:
For months a lot of people have been patiently waiting for the price to drop. and it did drop to $340ish eventually. If for a week or so the price seems to be stable at $400+ or even rising (even if it rises with 1% a day) all these people who were waiting for cheap coins may lose faith that the price will ever reach sub-340 again and will panicbuy, as soon as some of them buy, the price wil rise even more, triggering a chain reaction of panicbuys and therefore a new rush with a very high volume.
Is this a plausible scenario? I think so, but like i said, i'm not an expert.
