Bitcoin is quite often fell into periods of low volatility, which almost always ended in a sharp price leap. Now the main cryptocurrency again “stuck” at the level of 3600$. However, soon the situation may change dramatically — in the markets seen unusually high trading volume.
What does it mean?
Tonight, Bitcoin is trading at $ 3611. For the past day, the value of the asset only fell by 0.23 percent. At the same time daily trading volume in pairs: BTC/USD suddenly rose from 6 to 14 billion dollars. After some time, “pump” is over and the auctions were returned to their previous figures.
Chief analyst, eToro’s Mati Greenspan believes the fact that the growth on flat, rather amusing event.
If large price movements combined with large trading volumes, then the asset will still take some time to move in this direction. We saw something similar on the chart of Bitcoin in November, when cryptocurrency has dropped below $ 6,000. Today 24-hour volumes of the stock market reached 36 billion dollars, which looks quite intriguing.
Trader under the name Cryptomist believes that this event is a prerequisite for an early testing of level of $ 3,700.
All say that Bitcoin is preparing to drop. I think everything happens exactly the opposite. If my line on the graph is correct, then the breakout of the wedge will happen at the latest tomorrow morning.
Everyone keeps telling me $BTC is going to dump
I am leaning towards the opposite
Now within the apex of pennant
If my lines are correct, breakout no later than tomorrow evening
Should this be correct, expecting 3.7 k test once more
Trade safe loveys x pic.twitter.com/1EF9KKPCR8
— The Cryptomist (@TheCryptomist) February 14, 2019
Analyst at Lucid TA indicates the formation of a bullish structure in the chart of Bitcoin. In his opinion, in the near future, the asset can drop a little lower to pluck the stop order of the bulls. Then the bitcoin rush at least up to 3800 dollars.
Nice structure here on $BTC from a PA trader’s perspective.
Stop hunt straight into a ‘breaker’/significant horizontal. Nice close above to form SFP — all whilst in bull flag structure. High RR long entries here. pic.twitter.com/wlHWOTjxT3
— Lucid TA (@Lucid_TA) February 14, 2019
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