Cortex: Higher Low & High Volume (390% Mid-Term Target)Just recently, on the 26 of July, Cortex (CTXCBTC) produced its highest volume session on the daily timeframe since December 2022, this was a bullish day.
Cortex bottomed 5-July after going down for years. Ever since hitting this bottom, we have a pattern of higher lows coupled with rising volume. We can clearly see the early signals that show up before a change of trend.
We also have a major low in mid-2024 vs late 2023, which would mean a bullish lower low. This lower low dynamic is bullish because it means that all the gains from the previous bullish wave were removed; all weak hands are gone, the stop-losses were activated, sellers eventually become exhausted.
This leads us into our most favorite phrase for these pairs; Once we hit bottom, now is the time for growth.
We are seeing some pairs that are not like this one though and it is normal because the market is big and it is mixed. Rather than trading near its All-Time Low, some pairs are trading near their All-Time Highs. Rather than trading near support, some pairs are trading near resistance.
Regardless if there is additional growth on a pair trading high, the risk is always higher if you are buying spot. Those pairs that hit bottom and are showing reversal signals are safer, because sellers already sold all they wanted to sell.
It is a personal choice of course. But those bottomed out pairs tend to produce the best results. Low risk, vs a high potential for reward.
Thank you for reading.
Namaste.
