Cryptocurrency Price And Volume
A look at price and volume, a simple case of supply and demand.
When the price is going up and the volume is going up that's good.
When the price is going down and the volume is going down, that's a correction in an overall bull market.
If price is going up but volume is declining, demand is declining but the price is being bid up. Finally the bids run out and the price falls.
If price is going down but volume is increasing, more selling becomes more selling until a washout occurs. The bids overpower the sellers and the price goes up.
Below are 2 arithmetic scale charts.
Interesting ...... the total market cap tagged the ascending support line, it was once resistance.
The other chart excluding Bitcoin hasn't tagged the ascending support line. Bitcoin took a hard hit.
Overall......... Things are shaping up.
Everyone plays the system differently, you have to get your own style but I like what I see.
However.......... things do change and evolve and have to make decisions accordingly.
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Thanks for the great post! Lots of info.
Someday bitcoin will come to rise again.
Hard to say how things will unfold, however, things are looking good right now.
That makes sense as BTC made an extra leg lower that some of the big names like LTC and ETH never made.
It makes me wonder if there's going to be one more hit, making a divergence on the momentum indicators. I haven't seen a divergence on the momentum indicators yet. Would sure like to see that to complete this hit.