You are viewing a single comment's thread from:
RE: Elliott waves to forecast the Bitcoin price: Double Zigzag or Impulse + Fibonacci retracement.
Very detailed analysis man, the only think i can add is that any of those important moves must be followed with a proper trading volume to confirm either way, so far we have seen relatively small trading volumes so things needs to pick up, or the zigzag will continue.
Yup. Thanks for that notice. The most unpleasant movement is a slow downtrend.
Look, @cryptosludge, what do you think about that: the 4h chart starting from Novemeber. See the volume.
These cuts with blue are showing that when the volume was lower than today, the price went up. I understand, the market capitalization now is higher, but anyway. What do you think about it?
Yes, i agree the biggest issue with BTC is that it trades on many exchanges, so identifying on which exchange the action is actually takes place is the real challenge, by that i mean which exchange is leading the trend, and it's not always the same, sometime it's finex sometime the koreans, sometime coinbase. I also noticed that this cycle of downtrend also ran on relatively small volume and it does applies to your observation of the upper trend on low volume.