Volume Indicator, Gas Starts To Fly (100%+ Mapped)

BINANCE:GASBTC   Gas / Bitcoin
GASBTC is starting to fly and we have really good volume coming in... Let's take a quick look at the volume indicator.

We usually mention volume as a very important signal/indicator when it comes to TA. Any move that happens we always look for volume for confirmation.

Good volume is good for the bulls we always read/say.

Recently the market cycle changed from bearish to bullish , and we are seeing strong bullish action on low volume in some/many cases... This isn't a bearish signal anymore since we are in a bullish cycle, it is more of a "continuation" signal.

So if you see a bottomed out altcoin producing a low volume break above EMA10 and EMA50, instead of seeing this as a bearish signal telling you that prices can quickly reverse because there is no volume support, instead we see it as just the beginning since prices are moving higher and the trading volume is yet to come.

When we looked at GASBTC , we can find a good example of what I just wrote.

There was no big volume when breaking above EMA10 or EMA50 (just the beginning), but prices kept on moving higher and there is big volume now to challenge EMA200 and for GAS to continue going up.

Yes! We continue to look at trading volume for confirmation, but this can be better used now when it is time for a drop. If prices drop on low volume , you can take it as a signal of a retrace that won't go for long. But if prices drop on big/above-average bear/red volume , then you can take it as confirmation that prices will likely continue to drop.

That's the volume indicator based on my experience after years of looking at these charts.

Comment: -
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Good call allan! GAS up 25% today!
+1 Reply
AlanSantana scottybill
@scottybill, Thanks.
LOL who in the hell trades Gas/Bitcoin pairs?
@Wojak, Those of us who are making money.
+1 Reply
@Wojak Gas up 25% today LOL
Hi buddy, are you expecting a right shoulder to form?
AlanSantana darkpiggie
@darkpiggie, Not after any pattern.
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