You can see that gant cluster of volume. i also pointed this out to the left. This is a criitcal price area so it makes sense. A lot of activiity has gone on here for some reason. Maybe its where there were a lot of stop losses. Also, that looks like about where people started bailing.... hmmmm...
Maybe thats what it is. Just an assumption here but maybe this price level iis where people/banks rushed in, and are now bailing at about break even. Because it doesn't look like there was a lot of selling at those all time high price areas. You would also see these large volume spikes at the top... but they aren't there. People/banks are getting out at a loss while others are buying..
Just an assumption. But look at the volume. I think it is a reasonable guess.
But price is low. So lets see if a recognisable accumulation patter plays out for a god long. It can take a while. Just have to keep an eye on it.
Just try to remember that banks/high end investors mostly do not care about the crypto technology. They just want too know if it will make them money. Think and invest like the banks and you can profit. If you are into the tech thats cool. But finance people don't give a Shhii**. Besides, is it really a "crypto" currency if you need to send your photo ID, physical address and bank account information to an exchange in order to buy it?
Dont fall for it. Either you are trying to make money trading it because it's a viable investment vehicle... or you are getting played. Thats the attitude to have with these. Otherwise you are wasting your time and money.
We will see where it goes. It moves slow. But we may see a markup in the next few days to weeks...have to confirm and i dont think we have enough of the picture just yet.
Maybe thats what it is. Just an assumption here but maybe this price level iis where people/banks rushed in, and are now bailing at about break even. Because it doesn't look like there was a lot of selling at those all time high price areas. You would also see these large volume spikes at the top... but they aren't there. People/banks are getting out at a loss while others are buying..
Just an assumption. But look at the volume. I think it is a reasonable guess.
But price is low. So lets see if a recognisable accumulation patter plays out for a god long. It can take a while. Just have to keep an eye on it.
Just try to remember that banks/high end investors mostly do not care about the crypto technology. They just want too know if it will make them money. Think and invest like the banks and you can profit. If you are into the tech thats cool. But finance people don't give a Shhii**. Besides, is it really a "crypto" currency if you need to send your photo ID, physical address and bank account information to an exchange in order to buy it?
Dont fall for it. Either you are trying to make money trading it because it's a viable investment vehicle... or you are getting played. Thats the attitude to have with these. Otherwise you are wasting your time and money.
We will see where it goes. It moves slow. But we may see a markup in the next few days to weeks...have to confirm and i dont think we have enough of the picture just yet.