@staqs09 @jdavidshoe I think it’s algo trading keeping activity up with small buys to make activity look artificially higher, but sell orders keep being substantially larger than new money flowing it.
More range bound we are, the more profitable algo trading is
Charting aside- the sustained depression on price action has been mind boggling to me. So many factors have sent coins flying for less, yet we’re in a continued phase of consolidation. Have to imagine the market turns its interest our way soon
#holyshit
Unfortunately into tomorrow morning I’m not sure we’ll see much movement across any coin, if anything it’ll be derisking. Pending CPI report will drive action tomorrow, regardless of coin fundamentals.
Today was a win seeing buyers and volume showing up
#holyshit
Hold same levels or higher and we’re about 24 hours out from seeing how much pop this consolidation has from the resistance in the downtrend 👀
Typically the longer we’ve gone, the bigger the move- we’re about a week under the main resistance
#holyshit
Looks like we just broke through the smaller resistance level that’s been in effect since 1/10- buyers stepping in once that level was broke is certainly good to see
#holyshit
Hold same levels or higher and we’re about 24 hours out from seeing how much pop this consolidation has from the resistance in the downtrend 👀
Typically the longer we’ve gone, the bigger the move- we’re about a week under the main resistance
#holyshit
I’m calling bottom on #holyshit
Backstory- I’ve been in this with first purchases around 3m after the first pullback, added at 4m, then last at 7m
This is pure capitulation on every front with sellers looking for any green candle to exit on/ stop losses getting triggered