Is Volume Flow indicating $17.8 is the bottom? I was looking at different indicators today and found something very interesting on a volume flow indicator...
It shows the negative volume dipping sharply since the recent bottom at 17.8k, and conversely positive volume has been rising. They may intersect very soon. I got curious and looked at what happened in 2018 on the Volume Flow indicator and you can see a very similar scenario played out. The lines crossed over a little bit after the market bottom was in... This makes sense as people take a little while to be confident that the bottom is actually in. And again, we are about to see these two lines potentially cross. What's also interesting is that the length of time from the actual bottom and when the volume flow lines crossed, is about the same length of time between our recent bottom, and the projected date of the lines crossing.
Make of it what you will, this is a highly speculative idea. I just find this potentially compelling for a bull perspective. Of course the lines haven't actually crossed yet but it appears they likely will.
It shows the negative volume dipping sharply since the recent bottom at 17.8k, and conversely positive volume has been rising. They may intersect very soon. I got curious and looked at what happened in 2018 on the Volume Flow indicator and you can see a very similar scenario played out. The lines crossed over a little bit after the market bottom was in... This makes sense as people take a little while to be confident that the bottom is actually in. And again, we are about to see these two lines potentially cross. What's also interesting is that the length of time from the actual bottom and when the volume flow lines crossed, is about the same length of time between our recent bottom, and the projected date of the lines crossing.
Make of it what you will, this is a highly speculative idea. I just find this potentially compelling for a bull perspective. Of course the lines haven't actually crossed yet but it appears they likely will.
Comment:
Another weekly candle has printed and the gap between sell and buy pressure continued to rapidly narrow. It looks like they should cross in about one week. Will be interesting to see if we can build momentum from there.
Comment:
Had a small hiccup last week, when the sell and buy pressure bounced off eachother, but we have since rallied, and THIS week, look! They're touching.