Seems that I cannot type this idea fast enough as the projected bull rush is IMMINENT. This morning we watched BTC 1.03% fall from controversial low 7k levels all the way back down to the critical support of 6600. This critical support has more to it than it seems. 6600 was not just set at the drop in February, it truly was determined at the CVI 1.92% minimum in November. I have taken interest in volume patterns recently because the new trends of the past week are only to be gauged by sentiment, because as we already know, most of the price fluctuations have been big players and not a reflection of trends among small traders. By looking at the CVI 1.92% , it becomes apparent that the true beginning of BTC 1.03% POPULARITY began that November. What I am hoping this indicates is that all the big fish that have joined since then are finally out of the market. This is reflected in the stagnation at those mid-6k levels. On this graph I did some quick trend analysis based solely on the local maximums and minimums of market cash flow. Buying and selling trends fall easily within the CVI 1.92% bounds, and point strongly towards another push past 7500.
I want to stress that the growth from 6600 to 7200 has been extremely unusual within a bearish market pattern. Buyers are slowly pushing up the psychological support levels by about $100 at a time, and regardless of the big selloff this morning, the bulls have seen great resilience in bringing the price back to these levels with every passing day. The trend has already broken important resistance levels, and there is no apparent reason for someone with an influential market share to sell at levels below when BTC 1.03% became table talk (6600 in November). If the price breaks out of the resistance level it is currently sitting on, I expect the market to test every low 7k resistance level until selling pressure becomes overwhelming above 7500.