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BitCoin
A visible stop on the BTC chart allows investors to focus on other cryptographic assets or completely different instruments from the general (stock) market. But the current situation on the chart shows us signals that can be helpful in making a decision when something starts to work with the price on the chart. I marked numerically the image that we will analyze.
A single is a declining volume which, as you may already know, indicates that the movement of the price decline is a correction. A trend impulse almost always comes with high turnover and corrections with falling turnover as the position does not reverse while the trend continues.
Number two in the picture confirms that the attempt to sell 12,000 BTC was bought the first time and the second time a day and a half later, some of these investors realized a quick profit, but the 58,000 USD price ceiling was maintained. By writing a quick profit, I mean investors trading large amounts, and only with such traffic as described by a pack of 1000 BTC did it give the seller 3 million pure profit. And the last point we are waiting for …
The number three is two possibilities, and the decision we make will depend on the behavior of the price. If the price drops and the turnover increases significantly at the same time, a correction to the level I wrote about last week is possible. Breaking the price of $ 58k on a large volume will open the way to a stronger decline. In the event that the price will slowly decrease, but it will not be equal to the volume, we will calmly wait for investors to give an impulse (I personally assume an upward impulse). And this is the second option, i.e. an upward impulse on an increased volume that will be a signal for further purchases of cryptocurrency.
If you have any questions that bother you, or you do not understand any part of the analysis, feel free to comment, I will answer every question.
