Although the volume is decreasing by the looks of it on coinmarketcap.com if you look at the biggest exchange that does over 4 Billion a day in size (Bitmex) there has been an increasing amount of volume done over time. (much more volume than the December highs).
There was a lot of momentum going from 6k to 20k with all the average people wanting to get on the train and now are left selling off what is left. Conversely there was a lot of Momentum going on the downside of the market when it went from 20k to 5.9k last month. Ever since then there has been more volume (On exchanges, where all the professional traders trade bitcoin) but less momentum as Bitcoin is still deciding which way it wants to go (to $0 or to the moon).
Over the coming week it will slowly trickle down (consolidate for a few hours then spike down 200 points etc) until it hits $5900 USD where the support was set on February the 2nd (This most certainly will happen as we broke the supports set at $7300 recently.).We would most likely then see a consolidation period between $5900 and the double top at $11700.
If bitcoin were to break below the $5900 support we are looking at another bloodbath for cryptos. The price would then be in free fall and within 2 weeks I could see it drop to below 3k and then we are set for a wild ride.
Given the Volume that is now being traded on exchanges and people the regular folks that have been burnt are starting to leave, I think it is very possible that major investors/players in the market are using this as an opportunity to increase their position in Bitcoin (Especially if it breaks below 5.9k). There will most certainly be another massive bull run, and the regular people will get excited and buy-in on Bitcoin again, will run the price above 20k and we will see another massive sell off. The big investors being the biggest winners as we see the regular folks be burnt once again.
stop posting tranny faggot shit. This is business not where you clearly need to go.
wish you faggots and mentally ill pretend a girls would stop trying to force your faggot on everyone. Very intolerant of others wants to not see that queer shit
Jaxon Fisher
Cute girl (boy). What’s her (his) name?
Easton Price
Someone said what we’re all thinking
Hunter Morales
this. kys homofaggot
Liam Collins
Normies jumped the train back in december/January already left. The few remained probably already underperfomed the market, lost more than %60-70 of their initial(poorfags that invested on alts).
Question is whether they'll invest on bitcoin like they do on stocks( reserve some money monthly) or disregard it completely ?
Xavier Johnson
I cant even read OP because of the image is so annoying. Post qt asians or anime pics, this is Jow Forums.
Noah Reed
You are on Jow Forums and this is a meme, no one is actually into trannies
volume has been exploding ever since we broke 7k today. we have found the floor. sell / short now at your own peril
Camden Jackson
The majority of biz want trannies killed and women in the kitchen.
Caleb Foster
any of her cute flaccid penis?
Ayden Collins
Theres definitely tranny lovers on /b
Camden Nguyen
Yes, but this is a blue board
Carter Murphy
i wont tell
Isaac Gray
Son, when volume picks up and the largest bars are red, and most of the bars are red then you don't want to go long. Go slap a time frame of more than 30 minutes on Tradingview and you will see many tall red volume bars and a few loney bastard green bars.
Austin Morris
Speak for yourself, honey. A trap is fine too.
Hudson Wilson
I think those incels got rejected so much that they are willing to cling to anything that remotely looks like a woman and has some kind of interest
Owen Sanchez
Good market analysis OP. From the technical side, if you look at the dips ending last March and September, both dips ended with bullish divergences on the 1D. They only way this could happen again now is if we break down to 26 RSI on the 1D, but at a higher low, then bounce back up and establish that bottom as a bullish divergence.
With current price momentum, how likely do you feel that is? If we break lower, and don't establish that bullish divergence, I think you're right and that we will go much lower than $5,900.
