Two points: BTC rubbing up against the long term log trend, coming up Dec 6, also in line with FOMC meeting in US. Likely to raise Federal Funds lending rate. BTC has always respected this line.
The bottom floor we have right now also has resulted in a drive, historically, once the market believes it cannot drop. 2018 has punished crypto people and holders, so...
the dramatic rise in volume suggests a whole new period of confidence in BTC
a return to volume, of sorts, see previous posts
creates a new timetable and fib expectation
but who needs prices to rise when you've got this nice channel? I suspect the sideways days for BTC are over for now, and we are in a new phase, exiting the down trend
volume alone sets up a...
last time we had this kind of volume we were in summer 2017
but price was not under 200 DMA -- price in the summer was already bullish, rising above 200 MA
we are still under MA -- this is because the same volume represents much higher bull/bear competition, trying to hold down BTC's price.
so you get the same volume for a coin that costs 4 times as much....
Pretty cool how last year at $1000, people were getting about 4x gains. The volume in this period last year was chosen to study because the volume was exactly the same as it is today. However, today's bitcoin is trading near 9k.
Here is what last year's chart looked like when we got this volume -- it jumped 181%. Then, of course, things went off the rails and...
BTC in the past year possessed the same volume as we have right now, but at the start of the year, volume vanished amidst the market selloff.
I wanted to stress the fact that we've discovered reasonable price within the 7K - 9K lower bound. This creates a reasonable bottom on the market. If you are feeling hopeful, you can chart market behavior, when volume is...
BTC has spent the year crashing toward the 200 MA. This demonstrates bearish momentum, chasing volume out of the market. Feb 6 represented more inflow to coinbase/GDAX.
Now that all moving averages are surging to hit, and go beyond 200 MA, all signs will point to bullish for a long while. There will be pauses in the index, but it will go upward. There are only a...
last time we maintained the 8k level for this time was last year, pre-moon
I suspect we'll get to 10K in 6 days or so, given the same basic volume levels, which are way up since the start of the year. People are gearing up for a performant Q2, 3, 4 '18
If we get a pump, we'll certainly head that way. Look to get into the 13K area by June
studying buys off the lower bollinger this year, 2 hr and 4 hr chart. Lots of good buys, but you can see the slowing efficiency of bitcoin.
market will have to decide whether we are at a bottom or not. I drew an elipse illustrating our current point as a bottom, of sorts.
why not collapse to 5900 then offer us a bit of a jump?
great news on soros and other...
we'll reach down into the high 5K area soon, like we did in feb
but with higher buy volumes, there is a totally different buy-in condition. Way more investment at this price than in Q1. This is convincing behavior that we'll have dramatic pumps later this year.
I suspect that the new volume is 100% institutional, 100% professional, thus no one can artificially...
pitching downward, but reforming a bull area, with strong support ~ 7900
no bad news coming up to really scare things out
upward support line
trading within 20% up/downs for excellent trade areas
I hear futures are increasing, must check or graph alongside this