Bitcoin - Why the Low is not formed yet...

In general, when Bitcoin (or any asset) forms a significant high or low, volume will spike (capitulation).

See the chart, with every major low, volume spiked above the moving average. We did see a weak rise in volume when Bitcoin dropped from 20k to 11k, but we have not seen the real fear, when everybody wants to get out at the same time, through the same door...and that's often when volume spikes and a low is formed.

So besides my earlier analysis, see blog, in which I expect Bitcoin to reach lower lows during Q1/Q2 of 2018 based on the parabolic pattern of Silver 2006-2012, I also want to see a major uptick in selling volume to possibly signal a low that will last for a longer period.

Happy Newyear all and enjoy the day!

Outlook 2018: Bitcoin vs Silver parabolic pattern
https://steemit.com/bitcoin/@patterntrader/cryptocurrencies-bitcoin-2018-outlook-low-usd5-000-and-high-usd90-000-end-of-year