#BTC One hopeful fact. Even as the strong selling pressure continues, and further downward spikes occur, we've seen pre-placed limit buy orders gradually begin to receive volume. Of course, it's difficult to say that an immediate reversal has occurred, but the likelihood that someone has begun to reach the price level they've been waiting for has definitely increased. In other words, it's a sign that someone who's "acquiring volume" has reached the ideal price level. While this is a classic sign of an absorption pattern, for this to truly be considered trend fatigue, the downward movement must continue repeatedly, and multiple signs of price defense must appear. Therefore, it's safe to wait and see for now. Things to watch for: 1. Will the low hold during the next downtrend? 2. Will there be defensive signals in the delta/volume? After checking these two points and catching the Delta/CVD - Price Divergence, I believe it's not too late to consider buying.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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