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For a week now, we have seen BitCoin entered consolidation, which is tiring for many investors. On the forums we constantly read questions whether the price will increase, whether it is possible to buy, or it is better to wait. 90% of these questions are so meaningless that the people who ask them have no idea how the market works. The only thought is how to profit from BitCoin speculation.
Let’s look at trading volumes. More to the left we see the green volume bar which gave a buy signal for a large amount of cryptocurrency. and soon the rate started to go up in one slow movement. Importantly, even a relatively large sale did not cause a correction, and the price was constantly increasing, which made one think that there are so many people willing to buy the asset that the price cannot sleep.
Further, the correction took place on a relatively lowered volume, and with no major turnover, which indicated that there are no willing to sell, everyone is holding.
And what we see in the bottom image
After further increases, the trading volume began to weaken. The rate went up, but the exchange between investors weakened until there was a large sale of the stock which caused a correction. Back to create a double peak, and a sharp correction downwards. The signal to convert the value into cash appeared earlier, unfortunately for many it is better to ask on internet forums than to spend some time studying.
Moving on, another clear purchase signal appeared. With a practically minimal jump in price, a large purchase volume. A few hours later, the price obviously returned to the high local level.
Currently, it is worth waiting for such signals. Remember that the consolidation may mean a deeper correction, but you should not include the positions in the blinds .. We are waiting for the signal and just entering.
