Hello everyone, welcome back to the 2nd part of the analysis.
The first part is here:
So, getting back to the point. Let us understand, what does the volume say.
VOLUME
The volume has been screaming on the top of the voice in support of the BEARS since the beginning of the June. As you can, there is a rise in price supported by a falling volume and a fall in picce supported by an increase in volume. These both are BEARISH scenarios. Don’t let the increasing price fool you to think that it has become Bullish, always check volume.
In the last 4 days, some indecision can be seen in the market. Two DOJIs have been spotted in these 4 days.(See above)
1. The first DOJI was spotted on 15 Jun, after the recover from the massive selling from $600 to $450.
2. The second DOJI was spotted on 17 June.
This indecision may soon lead the price in one direction – Up or Down. Also, notice the drastic drop in the volume in these last 4 days.
VOLUME OSCILLATOR
The Volume oscillator indicator indicates a loss of bearish momentum at this moment. The oscillator has a negative value of -23.
For all those who don’t know how volume oscillator works, let me explain it to you in simple words. This indicator plots positive values above the zero line and negative values below the line. A positive value suggests there is enough market support to continue driving price activity in the direction of the current trend. A negative value suggests there is a lack of support, that prices may begin to become stagnant or reverse.
ETH is already in a clear downrend. A positive value of volume oscillator may have suggested further downward movement. But since, the value is negative, there is a lack of support and the trend may reverse soon.
PLEASE READ PART 1 OF THE ANALYSIS. I RAN OUT OF SPACE THERE, SO I HAD TO MAKE THIS POST.
LINK:
So, that was all from my side. Thank you for reading. Stay tuned for more.!
CONCLUSION:
I’ll leave it for you to decide. I am neither shorting nor longing at this moment, i am just sharing this for knowledge purposes only.
P.S: This is not an investment advice, and i am just learning. This is for my learning purpose only. Invest your capital at your own risk.
Those who wish to achieve greatness, never seek for permissions.
They follow what their heart says,
and do what their mind states!
Good luck trading.!
Peace.
The first part is here:
So, getting back to the point. Let us understand, what does the volume say.
VOLUME
The volume has been screaming on the top of the voice in support of the BEARS since the beginning of the June. As you can, there is a rise in price supported by a falling volume and a fall in picce supported by an increase in volume. These both are BEARISH scenarios. Don’t let the increasing price fool you to think that it has become Bullish, always check volume.
In the last 4 days, some indecision can be seen in the market. Two DOJIs have been spotted in these 4 days.(See above)
1. The first DOJI was spotted on 15 Jun, after the recover from the massive selling from $600 to $450.
2. The second DOJI was spotted on 17 June.
This indecision may soon lead the price in one direction – Up or Down. Also, notice the drastic drop in the volume in these last 4 days.
VOLUME OSCILLATOR
The Volume oscillator indicator indicates a loss of bearish momentum at this moment. The oscillator has a negative value of -23.
For all those who don’t know how volume oscillator works, let me explain it to you in simple words. This indicator plots positive values above the zero line and negative values below the line. A positive value suggests there is enough market support to continue driving price activity in the direction of the current trend. A negative value suggests there is a lack of support, that prices may begin to become stagnant or reverse.
ETH is already in a clear downrend. A positive value of volume oscillator may have suggested further downward movement. But since, the value is negative, there is a lack of support and the trend may reverse soon.
PLEASE READ PART 1 OF THE ANALYSIS. I RAN OUT OF SPACE THERE, SO I HAD TO MAKE THIS POST.
LINK:
So, that was all from my side. Thank you for reading. Stay tuned for more.!
CONCLUSION:
I’ll leave it for you to decide. I am neither shorting nor longing at this moment, i am just sharing this for knowledge purposes only.
P.S: This is not an investment advice, and i am just learning. This is for my learning purpose only. Invest your capital at your own risk.
Those who wish to achieve greatness, never seek for permissions.
They follow what their heart says,
and do what their mind states!
Good luck trading.!
Peace.
Comment:
TOUCHED SUPPORT.!
Rajat Kumar Singh,
B.Tech (Delhi Technological University)
Community Manager (IN), TradingView
✅ Telegram: t.me/johntradingwick
✅ Blog: tradingwick.in/
✅ Rounding Top pattern: tradingwick.in/chart-patterns/rounding-top
B.Tech (Delhi Technological University)
Community Manager (IN), TradingView
✅ Telegram: t.me/johntradingwick
✅ Blog: tradingwick.in/
✅ Rounding Top pattern: tradingwick.in/chart-patterns/rounding-top
