BTC: Latest Trends

BTC: Latest Trends
December 02 22:39 2018

BTC is a slave to trends.

This is true for most assets of most asset classes, but it never ceases to amaze me just how many trends there are!

I guess that’s what makes TA so tricky – picking the right ones.

For today’s post I want to show you the price trends I’m watching now. Tomorrow I will discuss another kind of BTC trend, not directly related to price.

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BTC: Latest Trends

Price movements

 

A little while ago all eyes were on the big red arrow as BTC hit now 2018 lows. That trend was broken by an upswing, which itself broke out of it’s upwards trend and started to plunge downwards. At that stage I thought (hoped) that we were going to see final capitulation and head back to the bullish territory, sadly that was not to be. Instead, BTC climbed again and just widened the borders of the channel it is now climbing in.

Interesting to note though, and this often occurs on charts, several short-term price movements within a trend tend to run parallel with the direction of the greater trend. Look at this chart again:

It’s important to note that I still expect to see a new 2018 BTC ATL soon! To confirm what I am saying, look at the volume over the last few days. It’s dropping steadily and significantly. That means only one thing, price is going to drop! (Volume is a *great* predictor of price drop movements before they happen!)

Yours in trending crypto

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About Article Author

Bit Brain
Bit Brain

A walking crypto encyclopedia. Honest, Realistic, Opinionated. Futurist, Autodidact, Polymath.

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