🅱️ Bitcoin Volume Drops To Zero, What Does It Mean?

7 thg 4, 2023

The trading volume just plummeted, it went to nothing in the past days.

We can look at this in two different ways.

One is the current consolidation phase. The massive drop in volume can signal that Bitcoin will continue moving sideways for an extended period of time.

The other view is that the bulls are retreating and the short-term trend will change.

Short-term bearish signals are piling up.

We have multiple failures for prices to move higher, moving below EMA10 and a bearish MACD cross.

This doesn't necessary means that Bitcoin will drop, the price is super strong at 28K but weakness is showing.

If a drop does happen, we remain/stay 6,000% bullish.

The drop will be used as fuel for the Altcoins to grow, especially the Altcoins vs Bitcoin (ALTSBTC) pairs that we are trading now.

Any drop should be quick but not strong stay within mid-term and long-term higher lows.

We still have more upside in the weeks to come.

Namaste.