Bitcoin continues to fluctuate within the side channel and liquidate hasty traders
In the meantime, we see that Bitcoin does not react to price ranges, which is because of the range that I named the volume density range that I have been working with for a long time, and it gives us much better reactions than other zones. If any of these zones are broken with a volume higher than the average volume in this range, we can set a scenario for the continuation of the path.
On the other hand, we have to pay attention to the time frame to estimate the probable time to decide whether to continue the trend or change the trend. My expectation is that at least until next week, the market will fluctuate in the same range to be filled within 11 weeks compared to the previous downtrend, but in terms of volume, unfortunately, we see that the volume of the second downtrend (to date 4.31M) ratio It has increased to the size of the first downtrend (3.515M) and this is not a good factor to change the trend unless we consider the end of the downtrend in the last two weeks (which of course we will give this opinion early because it is not filled in time) that volume Equivalent to 3.68M and approximately equal to the size of the first descending lag
However, in my opinion, in order to change the trend or continue the trend of bitcoin, it will leave the bottom of the channel once again.
That's why I still find shorter positions less risky ✌️
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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.