You're right on the mark there, Bitcoin has been moving sideways since April.
I like the fact that you're now looking the chart for what it is, instead of using it as some sort of indication of future events.
Everything you mentioned is exactly what is on the chart: Each time the price has plunged the range of prices between pre-dump / post-dump has constricted, suggesting the amount of interest at lower price points is waning.
Just like with the alts, once there is no sellers interested in parting with their coins at lower price ranges, more and more people begin to hold. Which means the only way for traders to buy in is via the sell side orders, which sends the price upward if trading volume is sufficient enough.
So in answer to your question, if the volume picks up we could see some good movement in the BTC/FIAT side of things
I like the fact that you're now looking the chart for what it is, instead of using it as some sort of indication of future events.
Everything you mentioned is exactly what is on the chart: Each time the price has plunged the range of prices between pre-dump / post-dump has constricted, suggesting the amount of interest at lower price points is waning.
Just like with the alts, once there is no sellers interested in parting with their coins at lower price ranges, more and more people begin to hold. Which means the only way for traders to buy in is via the sell side orders, which sends the price upward if trading volume is sufficient enough.
So in answer to your question, if the volume picks up we could see some good movement in the BTC/FIAT side of things
Super-subbing after this
Btc just moved upto $250 from $230 last week. +1 you guys
I got some friends into btc shortly after seeing this analysis and they are already gaining interest on their stash, I literally have my phone going nuts with texts and phone calls lol
i feel like somewhat of a legend after this
How long do you guys see this lasting. I saw you mentioned this is accumulation?
Looks to me like the annual summertime spike, only this one is bubbling up during accumulation which is a little more exciting than last years spike from $345 to $680
looks rather promising