By looking at the volume profiles we can see buying volume and selling volume seperately for a certain price range. When we extract selling volume from buying volume, we can calculate the net buying or selling volumes (i suppose). Here i took the April low as the top of this calculation.
On the left, i took the 7 segments for the trading range and the whole decline from April low.
Results are fascinating when you subtract selling volume from buying volume at each price level:
2.897.000 - 2.763.000 = 134.000 Bitcoins (122.198 of that in wyckoff trading range)
With an average price of $35k, this amount translates to $4.69 billion dollars AND this is just Binance!
Given Binance market share is 25% we should multiply our result by 4 which brings us to $18.76 Billion as a whole!
Notice how the current price range is just at 2.909 Bitcoins and one lower segment is at 6.694! This suggests that we are going to have lots of bull and bear traps in this area until the net selling amount reaches double digits, before we go down further.
Composite Man is fucking net selling!
Sorry, i tried being bullish, it didn't work.
On the left, i took the 7 segments for the trading range and the whole decline from April low.
Results are fascinating when you subtract selling volume from buying volume at each price level:
2.897.000 - 2.763.000 = 134.000 Bitcoins (122.198 of that in wyckoff trading range)
With an average price of $35k, this amount translates to $4.69 billion dollars AND this is just Binance!
Given Binance market share is 25% we should multiply our result by 4 which brings us to $18.76 Billion as a whole!
Notice how the current price range is just at 2.909 Bitcoins and one lower segment is at 6.694! This suggests that we are going to have lots of bull and bear traps in this area until the net selling amount reaches double digits, before we go down further.
Composite Man is fucking net selling!
Sorry, i tried being bullish, it didn't work.
Note
Ready to catch the falling knife? 
Note
Let's zoom out and look at the big picture. 
Note
So, when Lambo? 
Note
I sold my car and i'm not buying Bitcoin 
Note
Another 20k Bitcoin was dumped since July 8th since i published this analysis, just on Binance and reached to a net sales of 154.000 Bitcoin. That's over $21.5 Billion when you extrapolate to full market (4x of Binance) on an average price of 35k per Bitcoin.Note
Looks like 16k is playing out 
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Protect your Bitcoin investment with our realtime alerts and fully automate your trading. No more sleepless nights, black swans, rug pulls, whale pump & dumps or getting sidelined.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.