No Demand BTCUSD - The Roadrunner Moment

3 thg 4, 2021

In a normal buying climax, supply overwhelms demand on rising volume. When there is a shortening of the thrust on falling volume, that implies lack of demand.

That moment when Wiley E Coyote runs off the cliff and starts to slow, then he looks down...

When supply fathoms out that demand is dwindling and looks down to see that they've run off a cliff...

3 thg 4, 2021

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Ooops, did I just break bitcoin?

18 thg 4, 2021

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Ignore Volume at your peril

30 thg 4, 2021

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With less than 24 hours to go (before the end of the month) this is still going to be the lowest monthly volume since January. Volume is a proxy for pressure and in this case because prices have fallen we can confirm what was observed in prior months that buying pressure is less than selling pressure, however, given the relatively low volume we can see that selling pressure isn't yet at panic levels. Yet, being the optimum word in that last sentence, This market has rolled over slowly, giving the astute plenty of time to exit.

5 thg 6, 2021

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The month of May saw price collapse producing the largest spread bar to date with the 4th highest volume on the chart. The close, off the low, but still in the bottom third indicates that at least temporarily demand has reentered the market.

The fact that the volume wasn't higher indicates that there wasn't complete panic, however it may also have been a symptom of the fact that many exchanges experienced difficulties keeping up with the order flow.