Btc (last update)

Volume on weekly frame

On the chart 4 candles per week for 4 events of surrender if we count the candle of the past week

Surrender candles are characterized by high volume during a downward wave that exceeds 40%.

We note some important things:

The first thing is that there is some similarity between these events of surrender with the different timing and manner in which they occurred

In terms of shape on the chart, traders sell and wait for less areas

And diffuse forecasts for lower numbers open endlessly down

The overwhelming fear

And the big volume of course for sale coincides with a big drop

The second thing is that the volume of the surrender candle decreases with each subsequent surrender event

But there is an important note here that will pass on 99% of traders

Namely, this volume indicator calculates the number of bitcoins, not the volume in dollars

On this basis, we will find that the value of the volume in dollars in the areas of 30 thousand is higher than 4000

This is due to the price of the Bitcoin itself

When you multiply the number of pieces executed by $30,000, you will find that their dollar value is higher than the previous lows

Although the previous lows were in the 3,000 area, more Bitcoins were executed and this is what the indicator shows

The third thing is that there is a similarity between these two troughs in the 30 thousand area and the previous two troughs in the 3000 area

The first low at 3200 was the capitulation candle with high volume and the next low at 3800 the volume of the candle was slightly lower

The same is true for the 30k candle last year, and the current candle is slightly lower than it

The last thing is that sometimes the surrender candle was the bottom candle, as happened in Dam Corona

And some times it was followed by a lower bottom, such as the bottom of 3200 and the bottom of 29 thousand last year

Therefore, if the candle of the previous week was a surrender candle, it could be the bottom or a slightly lower bottom could be formed

In the end, I am not sure that the candle of the previous week is the final candle of surrender, and we may see a bearish candle stronger than it in the coming weeks.

nobody knows

But there is a possibility that it is the candle that surrenders to this drop and the price begins to rise after a slightly lower bottom or without forming a lower bottom.

This will appear in the coming weeks

@Tareq