Hello traders,
The areas in yellow indicated higher volume pressure, and both big drops were controlled by bears. The biggest volume we ever had can be found in the first big rise in price. Long term, manipulation and the global crisis must be taken into consideration when looking at the spikes we have had with respect to the upcoming halving event which, historically, paints a beautiful picture for those holding BTC. That being said, manipulators must know this so shaking out those with little confidence or too much at stake could be the winning play.
Personally, I would tread cautiously before buying any BTC in light of the global situation since gold may be the safer option for preservation of capital.
I want it to be true that BTC will be incredibly valuable long term, but what I want only affects my trading.
Live long and profit.
-zm
EDIT : look to breakout of the blue zone highlighted
The areas in yellow indicated higher volume pressure, and both big drops were controlled by bears. The biggest volume we ever had can be found in the first big rise in price. Long term, manipulation and the global crisis must be taken into consideration when looking at the spikes we have had with respect to the upcoming halving event which, historically, paints a beautiful picture for those holding BTC. That being said, manipulators must know this so shaking out those with little confidence or too much at stake could be the winning play.
Personally, I would tread cautiously before buying any BTC in light of the global situation since gold may be the safer option for preservation of capital.
I want it to be true that BTC will be incredibly valuable long term, but what I want only affects my trading.
Live long and profit.
-zm
EDIT : look to breakout of the blue zone highlighted
Comment:
Also notice the highest buying pressure took place prior to BTC's highest rise in price. Sellers have managed to dominate every trend since then.