The first breakout no one expected. There was a huge volume and the price moved so much and so quickly.
Then there was a second up move with a similar volume, the price did move up but this move was a bit smaller.
The third large move was after the fake triangle break out, this one has a smaller effect on the market.
Shortly thereafter there was a 4th buy with just about the same volume. This time however the price barely moved up at all, and was unable to reverse a newly formed downtrend - the blue line.
Should this pattern continue in the same manner, the price would move roughly like this, in a circular motion.
Then there was a second up move with a similar volume, the price did move up but this move was a bit smaller.
The third large move was after the fake triangle break out, this one has a smaller effect on the market.
Shortly thereafter there was a 4th buy with just about the same volume. This time however the price barely moved up at all, and was unable to reverse a newly formed downtrend - the blue line.
Should this pattern continue in the same manner, the price would move roughly like this, in a circular motion.
Note
Try hardsNote
Note
Someone just destroyed a 5000 BTC sell wall on Bitfinex.Note
Now there is a 6000 BTC sell wall. Let's hope it holds.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.