Point of Control POC: price point with highest trade volumes used alongside Bitcoin Momentum TSI and Relative Strength Index RSI for comparative purposes. 50 day moving average MA used for linear comparison and 50 day exponential moving average used for the log graph.
I have marked our current position as zone of interest because as you will see from our comparison today we are sitting on what is currently the highest trade volume we have seen at any price point since the start of our decline in December 2017. What we are unable to know now is whether this support level will hold. If it doesn’t I would think we dip down to approximately $2700 and re-test. With this said research reveals BTC accumulation is taking place OTC. That could mean that the start of our next bull run or the continuation of the bear market could continue in a matter that the indicators from this graph will not capture.
I have marked our current position as zone of interest because as you will see from our comparison today we are sitting on what is currently the highest trade volume we have seen at any price point since the start of our decline in December 2017. What we are unable to know now is whether this support level will hold. If it doesn’t I would think we dip down to approximately $2700 and re-test. With this said research reveals BTC accumulation is taking place OTC. That could mean that the start of our next bull run or the continuation of the bear market could continue in a matter that the indicators from this graph will not capture.