Downtrend intact
Downtrend intact
Let's take a look at the volume of our king Bitcoin. right now it has a volume of over 750 Million USD traded in the last 24 hours, now what's interesting about that is that the volume is higher when we go down than when we go up. This is interesting due to the fact that it confirms that we are in a downtrend still. Keep a close eye on that volume of Bitcoin. If bitcoin goes up and the volume is higher than on a down day that could mean that we are reversing in trend. Another reason we could reverse is if we go above the downtrend line from the overall cryptocurrency market cap.
Marketcap analysis
Just like in a few posts back I was already telling people that the specific dip from then was most likely not the last dip, I talked about it in the following post: https://steemit.com/steemit/@cryptopy/the-crypto-bloodbath-is-it-time-to-buy
This is merely my opinion but I simply drew a line from the tops and I can clearly see that we're still in a downtrend of cryptocurrencies in general.
interesting