If I take it correctly, it is pretty easy: Either people are not willing to sell at this moment (hell, how can it be any more bullish than that?) or they just can't sell as of now and it still takes some time, then you can make exactly *zero* conclusions from the lack of trades occurring...
People trapped in the fund, at a loss, not willing to sell doesn't mean it is bullish. It only means they are bagholders. The more bagholders it has, the harder to go up.
I'm not saying it because there are 0 trades right now, which is obvious they couldn't send their shares there. I'm just saying my opinion of what I think is more likely to happen.