Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 02/08/2015, 14:21:17 UTC
Quote from: GaliX on August 02, 2015, 02:17:43 PM
Quote from: inca on August 02, 2015, 02:15:10 PM
Quote from: natewelt on August 02, 2015, 02:09:19 PM


Here's what the technical picture looks like right now. Obviously we need to break to the upside from this 5 day downtrend soon or we may see lower prices still in the immediate near term.

Look at the volume on the decline and guess what happens next.





Volume can be an indicator for tops/bottoms in the rest of the time volume is not so important...


Not true. Periods of abnormally low volume are normally the calm before the storm. Usually the move following a period of low volume is substantial. Lower volume during an uptrend usually indicates buyers are losing interest and lower volume during a downtrend means sellers are almost done selling.