Last time before the fall we had a "volume preparation" in which we basically has a test volume spike to set a precedent for the size of the next volume spike which correlates with the drop. We see that the previous time we had our first volume spike without much of a drop, we see another one about 15 hours later which could also occur here in this next spike. Just like the first volume spike on February 1st we saw another spike about 15 hours later on February 2nd. I believe this could possibly also occur here on btc in the next couple of hours, but do not fear for last time there was a spike in volume, the price did not exceed that of the high on the first time. Although it may allow for a better opportunity to get into a short, if you are in a lower leverage short, it would be smarter to hold your short (not financial advice), because overall it won't go much higher. Now the other option is we skip that higher volume spike, and we start our down trend here again in the next 24 hours. Take this with a grain of salt though, because we see that the volume spikes aren't fully synchronized, as last time BTC was going down, We saw the first volume, spike, but here we had it a bit after. In my opinion, the reason for this is that this W pattern we've had over the past two days took about 75% longer than the last one, which could be the reasoning for the lag of the volume growth.
Be careful be luck I myself am in a 12.5x position currently
Not financial advice good luck!!!
Be careful be luck I myself am in a 12.5x position currently
Not financial advice good luck!!!
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The fact that the volume is lagged is actually better because we have more eyes on btc allowing for a harder fall, as a lot more money is getting run through it. Hopefully the end of the correction after this