Long term trend, bounced Pennant, broke to the north RSI, broke trend MACD, broke trend Stochastic RSI, buy signal Peaked head over ATH Excellent volume
Beautiful words, for a Beautiful breakout as you desribed, great analysis. Thanks!
DrStein
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Could you please explain why the volume is "excellent" since your chart is showing clearly that volume is dropping.
FinanceGoku
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@DrStein, we were only a few hours into the day. You had to go to the lower time frames to see the breakout volume. This was dropped within minutes of the breakout, showing the daily chart. So, if you look at the 15 minute, you can see the volume. If you look at the daily chart now, you can see the volume. Hope this helps.
DrStein
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@FinanceGoku, ok I see...you were referring to lower time frames indeed. But the overall volume is dropping while the price keeps rising. This last breakout could lead to 75K but I worry about the low volume. Anyway thanks.
FinanceGoku
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@DrStein I don’t have a position in my trading account. For me the potential % return isn’t high enough for the amount of capital you need to invest. I don’t leverage trade, so prefer the large cap alts. Volume is just a function of supply selling and demand buying anyway. If supply is dropping due to less available bitcoin on the market (locked in corporate balance sheets) volume isn’t going to be as high as it was a few months ago.