On this episode of The Trend we take a look at how an asset sets up a foundation for further moves. Its important to understand some of the psychology which applies to both traders and investors when evaluating an asset. Here we look at BTC and its current trading area along with historical trading area's for comparison. Several times throughout the video I use terminology which is "borrowed" from Wyckoff analysts. I would like to clarify that I am using these terms as "explanatory" terms and not necessarily as the professional definitions for them (although most do fit, just by nature). Thanks for taking a look!
I hope you all muck up a chart showing off what you think will happen, and feel free to post that chart back here!
Do you think that volume drop at Coinbase related to Binance? If you check Binance BTCUSDT volume, it kept increasing. Maybe people like Binance more compared to GDAX, maybe it is related to tax?
blessmywork
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@sdurgut, Thats a great question. I really don't have the answer to that. I will have to take a look. Trying to understand why it happened will definitely be an important step!
photinoman
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@nukenowakowski, Thanks! Maybe people are just avoiding GDAX due to new tax regulations in US:)
blessmywork
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@sdurgut, that is certainly possible. We may just see less volume due to there being less retail investors willing to sell at these prices as well.