Hey Guys,
Most of us are wondering how to recognize the start of a real bull market. Well one of the most important thing is VOLUME. Analyzing the candles can also be an indicator.
See daily chart bitcoin 2014 - 2015.
1. The corrective wave is accompanied with a decrease of volume in April 2014, a sign that the uptrend is topping out and going down. Even taking out the lower low. Notice also the huge green candle that was followed by smaller and smaller green daily candles.
2. In 2015 a breakthrough through resistance was realized accompanied with HUGE and INCREASE in volume. The first green daily candles were small and became bigger over the days, correction came BUT creating higher lows. The bull market started.
The corrective uptrend of today has similarities with scenario 1. Decrease in volume, topping out (see smaller green candles), uptrend started with a huge green candle.
Cheers and enjoy the weekend!
Most of us are wondering how to recognize the start of a real bull market. Well one of the most important thing is VOLUME. Analyzing the candles can also be an indicator.
See daily chart bitcoin 2014 - 2015.
1. The corrective wave is accompanied with a decrease of volume in April 2014, a sign that the uptrend is topping out and going down. Even taking out the lower low. Notice also the huge green candle that was followed by smaller and smaller green daily candles.
2. In 2015 a breakthrough through resistance was realized accompanied with HUGE and INCREASE in volume. The first green daily candles were small and became bigger over the days, correction came BUT creating higher lows. The bull market started.
The corrective uptrend of today has similarities with scenario 1. Decrease in volume, topping out (see smaller green candles), uptrend started with a huge green candle.
Cheers and enjoy the weekend!