I keep hearing "Green Shoots" and "microcosmic" trends. If you want to talk about TA you may want to have a look at babypips, they have a great school for analysis
http://www.babypips.com/school. I'd recommend you have a look.
Also I'd recommend zooming out on your charts. 1 minute charts are too narrow. Zoom out, 15m minimum, 1 hour, 4 hour and daily.
This.
Assuming there even is more volume on the upside (it's unclear), you would have to wait for an actual price movement anyways to confirm.
If the volume isn't significant enough to move price, it isn't significant enough to be a reliable indicator. That makes this analysis very very close to pointless.
More significant than you think in the market today, with the positive sentiment and the record level of hodling going on.
If the market is going sideways - I mean really straight - then the minute level can give you a clue as to sentiment in this way, even if the price doesn't move.
The reason it doesn't move is because there is a sell wall. The small buys are nibbling that wall. But there are still more buys than sells. That's market sentiment.
Thinking on this level is going to become more useful as time goes on because there are going to be increasing numbers of small buyers - minnows - and together they will be a force to be reckoned with.
A couple of weeks back the market was going sideways. People were looking to the direction of the break but if I remember correctly no-one called it clearly - everyone saying it was too close to call. But I saw a significant majority of these small buys on the Gox minute scale, eating at a large wall. It looked quite clear that it was only a matter of time before this pressure had an effect. After a couple of hours the wall was gone and when the price started moving up, people piled in.