BTCUSDT Showing High Volumes in Weekly Time Frame
If you take a glance at BTCUSDT on weekly time frame along the Volume chart and compare areas having high volumes, some historical pattern shows up !
Usually the volume rush has been followed by huge price upward movements as you can see in the red boxes. This type of occasion has been happening again since last 2 months. To check the stats and probabilities, 5 Out of 6 volumes rushes in BTCUSDT weekly history has led into higher prices.
Currently the market has registered 4th and 5th biggest volumes of all time within the last 8 weeks indicating a high potential of price rally and to be exact with the probabilities, the chance of price rally is 5/6 or something about 83% !
The other interesting thing about volume analysis of the weekly BTCUSDT chart is the section covered by purple box, ATH has been registered in that time but the volume was in its lowest values meaning that the majority of market had found these prices extraordinary and illogical and was not willing to buy BTC at those prices which enforced a trend reversal and lower prices; although, the majority of market have found current prices logical and are buying BTC at this price heavily as the volume chart indicates and this huge volume foretells some huge upward movement.
Usually the volume rush has been followed by huge price upward movements as you can see in the red boxes. This type of occasion has been happening again since last 2 months. To check the stats and probabilities, 5 Out of 6 volumes rushes in BTCUSDT weekly history has led into higher prices.
Currently the market has registered 4th and 5th biggest volumes of all time within the last 8 weeks indicating a high potential of price rally and to be exact with the probabilities, the chance of price rally is 5/6 or something about 83% !
The other interesting thing about volume analysis of the weekly BTCUSDT chart is the section covered by purple box, ATH has been registered in that time but the volume was in its lowest values meaning that the majority of market had found these prices extraordinary and illogical and was not willing to buy BTC at those prices which enforced a trend reversal and lower prices; although, the majority of market have found current prices logical and are buying BTC at this price heavily as the volume chart indicates and this huge volume foretells some huge upward movement.