Is Anybody Trading Crypto Anymore?
We saw a fast drop for BTC below $6450 after the close Tuesday with no volume (even on XBT so far which is different) and a quick rebound back.What’s going on? Here’s what we see happening: 1) TRIANGLE PATTERN It’s normal for tighter range moves and lower volume before a “high volume big move” in BTC’s current Triangle Pattern — so patterns say this continues to be the calm before the next storm 2) NEW NORMAL IS NORMAL! The Crypto market is “maturing” — a couple of weeks consolidating in a price range is NORMAL for markets — crypto traders are just used to 20% - 50% moves every day…. 3) WATCHING PAINT DRY IS ONE OF “THEIR” TRADE STRATEGIES — Whales and bots have endless time to play games and take your money while you get frustrated, stop watching and miss big moves. However, as XEM chart below shows there continue to be “selective BIG moves” so it’s not all “watching paint dry” and that means SOMETHING. HISTORY SAYS KEEP WATCHING CLOSELY With major players trading crypto it’s worth knowing stock market patterns and we think this chart showing monthly pattern for stock VOLATILITY is worth keeping in mind.
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