There is no point in writing a lot because people who know the market and trade in financial assets know why the BTC rate is currently going up.
However, if you are a newbie and you do not trade cryptocurrencies or CFDs on a daily basis, then I will explain why BTC is now candle by candle green and its price is rising. Take a look at the picture below:
I write all the time about the volume of trading and to pay attention to it. Wall Street traders don’t have wonderful indicators that tell them when to buy and when to sell. Traders on the market mainly use the volume of transactions, as well as on the stock, currency and cryptocurrency markets.
An important tip for you is how many people are willing to buy, and how many are willing to sell a given item that you are observing .. From the beginning of the correction, I write about the volume, while large news sites panic, writing that BTC has a 20% correction ..
The picture shows that now the price of BTC is rising, but the volume of transactions is falling, which shows that there are not too many people willing to get rid of their BTC on the sellers side. Thanks to this, we can see that some people make partial profits or simply exchange BitCoin for cash, but despite the willingness of buyers, there are not too many who want to sell at a low price.
Similarly, in the opposite direction, when the market wants to sell a value and the price will fall, but it will not be visible in terms of volume, i.e. the drops will be disproportionate to the actual turnover, it may mean the same as in the last correction.
However, if you see that the price is standing still and the volume is growing rapidly, it means that one of the parties to the transaction is buying everything that is put on the stock exchange. The best example is the recent situation on ETH where the volume was very high and the price reacted by only a few dollars, which showed that there are so many orders at this level that buyers will consume everything that is sold. It was then that we experienced panic, widely discussed in the markets, which the more experienced ones focused on. Moments later, we could already see the slow gains, and probably a lot of regret for those who got rid of ETH quickly thinking it was a collapse of the course.