Starting to get worried we're set for a dump to take us below 240. It's eerily quiet on here, just a hunch but I sense a dump. People might have been waiting for the pump from the other day to continue. It hasn't so we've begun a little dump, I think people who look for small profits might sell now unfortunately.
Bid support has grown tremendously so it would have to be a pretty big dump, and sell volume is running low as usual this late in the bear market. Very risky for whales to attempt this if only to manipulate. Profit-taking is generally not enough to push things down when the market is ready to move up.
At the outset of larger uptrends you'll see a resistance to lower prices and low volume on the dips as some longs take profits and retail/gamblers load up on shorts. As a trader, I might take profits here (haven't yet) but would get long at the next dip if the price continues to firm up around $250. In that case many longs who rode the first leg will watch the bull flag complete on 12h/daily chart and jump back in.
I think we either go sideways this weekend or see a pump start sometime before Monday to mark the price up for people waiting for deposits to clear at exchanges. If we do see higher prices next week watch out because many of the whales are finally turning bullish, removing sell orders and attracting volume back into the market. The ask side of Finex is quite scary if a big pump takes off. Scary in a good way as there's little to stand in the way of higher prices, and it might run to the top of the trading range ($280-300) very quickly.
