Today we saw the largest volume in a single hour on bitcoin in history, and it was bullish. What does this mean?
I feel volume is the most important indicator after price, and what we saw with volume today was a whole lot of buying in a really short period of time. The overall volume that followed was significantly higher than we've been seeing lately. This was accompanied by a very large and positive movement in price. This can lend to some hope for more momentum and positive price action, and it is possible a bottom has been found and we've been slowly building from it. It will be important to watch what happens from here going into the weekend. I'm still very cautious and skeptical of this move, resistance remains just above 9k. major resistance around 9.5k. and I wouldn't feel like we've confirmed a reversal from these levels until a close above 12k.
We've seen quite a movement in STEEM and SBD today, both making really positive gains against USD and BTC, and STEEM made some big gains on SBD in their own pair. That's been quite interesting to watch. I am not totally sure how high the ratio peaked at, but I know it was at least 1.20. It's always fun to see our STEEM rise!
That King Louis!
Nice weed the bitcoin boom was weird I don't know. Steem boom too
Be watching closely through the weekend.
Yeah and it was only one guy buying :). Cant wait til his friends join.
Right! That volume couldn't have been dumb money.
i dont know nothing about trading but it think its the bank chipping their way in.
Very well may be
It was weird. Steem went higher than SBD. Sus
Yep, that doesn't happen often, and it usually isn't sustained. Lets watch!
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