News has been pushed out that the volumes have been faked. I am not sure what is going to happen.
2019, and we are still falling into the abyss.
Looks like 50/50 shot to me. If we break upward past the trend line, I will need to be in some white pants. The gains will be nice!
Downside is that the trend says we are going down. Plus news has been pushed out that a good chunk of our volumes were not real. The timing is too coincidental. Brown pants may be needed.
Could it be due to the Binance maintenance? People parking their coins on other exchanges?
This is not new news. But more and more people are digging into these claims and starting to prove the truth of prior findings. One could say that one of the big side benefits of an extended bear market with not much trading happening is that it’s easier to shake out the obvious fake volume data that is going on across all these exchanges that otherwise have next to no organic liquidity.
EDIT: reposting this for those interested in keeping an eye on such stats: https://www.blockchaintransparency.org/exchangerankings
Last time volatility was this low was October/November time
Lets rephrase it … last time volatility was this low BTC damped from 6.5k to 3.2k
Told ya so…
Looks like we are on the cusp of printing some hidden bearish divergence on the weekly,
In a down trend price is making a lower high, rsi making a higher high.
This isn’t confirmed yet, just keep an eye on the weekly dildo close
If volumes are true the price of bitcoin would at least be demonstrating a heck of a lot more volatility. Look at market caps and volume levels. Bitcoin is turning over it’s entire market cap about every 7-8 days while price trades practically flat? Really?
Could this not be traders spending their BTC on shitcoins and then selling those pumped up shitcoins back to BTC to constantly to skim some profit and grow their BTC stack? It’s what I’m doing, not sure about anyone else.
I realise that there’s definitely fake volume happening on some of those obscure exchanges, most I’ve never heard of. But I still think a lot of gamblers “traders” must be producing a the huge volume. BTC moves marginally up or down, while shitcoins go crazy, someone has to be making money right? e.g. @Mike_Fishy
preffer the bullish hiddens on the monthly, with that stoch bull cross. last time we had a bull cross on the monthly stoch after a hidden div was 01/04/15.
Possibility for sure. Just showing confluence with the previous bear market . Also when the stoch crossed bullish in 2015 the markets went sideways for 7months before finally breaking up.
@Clarky663 switch to the weekly and take a look at this orange support I’ve drawn here, quite interesting it has almost 4 touching points and it coincides perfectly as the next support if I replicate the FIB’s projection behaviors.
I know I know … anyone can draw lines and place in indicators in a way we want to see things, (before you let me know that ) just sharing another POV.
do me a favour and remove your fibs so i can see the trend lines better.
honestly the more i look at these diagonals the less weight i give them for accuracy. seem realy subjective and tbh prob only good for general trend.not saying that your wrong and price defo gravitates towards these trend lines but whether or not they actually touch is something else.
Now that over leveraged shorts and longs from this range got rekt we can resume sideways.