From time to time, a friend or a colleague would ask me about where the price will go in the coming days. Vice-versa I also asked for opinions about the price.
Today, for the first time after 4 years of investing, I feel pretty confident about tomorrow’s predominant colour of the markets. I believe that tomorrow we are moving into the red once again. Look at the volume today.
The crypto market is driven by interest and sentiment, this is correlated with volume. There is a divergence right now between price, which is going up, and volume which is going down.
If you look just a few days ago, this very pattern caused the price to go down $100B.
This time I won’t sell anything. I will actually hope my first official prediction is wrong. Many people actually believe that since, with bitcoin, we have penetrated the average of the last 200 days (aka MA200) then the price is bound to go up because smart money are going to buy.
Crypto markets are never boring that’s for sure, so I’m going to keep a close eye to this one tomorrow.
so far still green, but volume is shrinking.
CU
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Yep, true. I wonder if I was dead wrong, maybe the market will be stable or go up in the following days.
I still believe that low volume is a clear indicator that the price won’t be able to keep up for long though.
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We can only speculate. It is very difficult to play the markets. Nevertheless, tt's very interesting times we are living in right now.
Cu,
Chris aka smallstepschange
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Timing was 300% off but descending volume still resulted in some downtrend. Let’s hope we see some volume pumping or we could have another crash in 2 weeks.
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