@Roman_Trading Volume on one exchange is basically useless. Check dark pool accumulation - tells a very different story, and now options flow is becoming more supportive of upside
Until the .382 from bear market low to ATH (84k) is lost on the weekly I believe BTC remains in a bull market. Every major pull back this cycle has tested the .382 before making new highs.
Until the .382 from bear market low to ATH (84k) is lost on the weekly I believe BTC remains in a bull market. Every major pull back this cycle has tested the .382 before making new highs.
@ZenomTrader I can understand extended drawdowns on a personal account. But given the structure of prop accounts (which you’ve rightly pointed out can allow payouts even with unprofitable strategies), do you think periods of non profitability in prop trading would be "normal"?
@taqwaayub It's around the .236 retracement from the origin of the dump (ATH) to the low. In strong trends you typically see a harsh rejection from these levels so I see it as a positive that so far the reaction has been muted.
91.3k will be a key level for Bitcoin. It's the .236 retracement of the sell-off from ATH, and likely to correspond to Tether Dominance (USDT.D) pulling back to its .236 around 5.91%.
@greepinn@CryptosR_Us For every transaction there is a buyer and a seller. Do you honestly think the distressed seller who has been dumping in to illiquid conditions with such poor execution is offloading to dumb money?
@blackwidowbtc It's normal in the sense that every correction this cycle has reached a .382 retracements from bear market low to ATH. We're putting in a bounce there at the moment.