Yep, that is a concern Glads, and it might be correct too, I also mentioned it previously as well.
That sort of thing does happen for sure, price is held up (with the sellers even buying some stock to help create demand), and any demand that is created is then actively sold into.
Usually when this type of thing is going on, price spikes up occasionally (to try to create some excitement & demand), but closes poorly and the next bar is usually down, and this is usually the giveaway on the chart, but that sort of thing hasn't happened since about the 4th January (perhaps demand is so low, that any brief excitement cannot even be created).
But it needs to be considered for sure, particularly as any signs of potential strength so far, have all failed.
There shouldn't be any serious damage done to any readers of this thread though, as there has not been any decent momentum entries at all, and the only entry that could have been taken was for an attempt to accumulate with the potential buyers around the 0.038 level prior to the 7th January (at the low of the stopping volume bar, which was a valid strategy at the time, and would have allowed for a tight stop, but would have/or should have, been stopped out by now).
cheers
Expand
