Hello everyone
Something else today, I was looking at this chart for patterns, similar things in the past, bear flags and so on. Despite the fact that I believe that technical analysis is very important in today’s crypto-market, I’m convinced that no one can really predict such a downfall or an really big uptrend in this market because the volume is so volatile. I think that the volume is even more volatile than the price-actions in today’s crypto-market.
Despite the fact that I like to draw many patterns and (resistance/support) lines, I haven't today. In my opinion that would have no value for you guys.
BUT there is something else that caught my eye:
1) You can see that the volume has been very low for a month or 2, from 23 December until 4 march, there is almost no volume in this market. On march fifth there is a huge sell-off. No one knows why, there is no bad news fundamentally, the resistance on 11K was not that big, with other words: no reason to panic. There comes a 5 (5march-10march) day sell-off. My thoughts are that they (institutions) are getting their liquidity up so they can shock the market a couple of days after with huge buy-actions.
2) the volumes stays relatively high between march 12 and April 11.
3) A BIG institution comes in and buys over 19'000 BTC in less than 30 minutes, prices go up as crazy.
4) when the prices went up they sold a part on April 16, again, big sell-off with no indicators why? The second part they sold on April 25.
5) the result is that the liquidity in the market was gone. Now, a month later we pay the price.
It’s not all bad news guys, price are back low again, time to invest :p.
comments are highly appreciated.
(this is no financial advice, just my opinion)
Something else today, I was looking at this chart for patterns, similar things in the past, bear flags and so on. Despite the fact that I believe that technical analysis is very important in today’s crypto-market, I’m convinced that no one can really predict such a downfall or an really big uptrend in this market because the volume is so volatile. I think that the volume is even more volatile than the price-actions in today’s crypto-market.
Despite the fact that I like to draw many patterns and (resistance/support) lines, I haven't today. In my opinion that would have no value for you guys.
BUT there is something else that caught my eye:
1) You can see that the volume has been very low for a month or 2, from 23 December until 4 march, there is almost no volume in this market. On march fifth there is a huge sell-off. No one knows why, there is no bad news fundamentally, the resistance on 11K was not that big, with other words: no reason to panic. There comes a 5 (5march-10march) day sell-off. My thoughts are that they (institutions) are getting their liquidity up so they can shock the market a couple of days after with huge buy-actions.
2) the volumes stays relatively high between march 12 and April 11.
3) A BIG institution comes in and buys over 19'000 BTC in less than 30 minutes, prices go up as crazy.
4) when the prices went up they sold a part on April 16, again, big sell-off with no indicators why? The second part they sold on April 25.
5) the result is that the liquidity in the market was gone. Now, a month later we pay the price.
It’s not all bad news guys, price are back low again, time to invest :p.
comments are highly appreciated.
(this is no financial advice, just my opinion)