Altcoins Talks - Cryptocurrency Forum

Crypto Discussion Forum => Cryptocurrency Trading => Cryptocurrency Price Speculations => Topic started by: dragononcrypto on October 15, 2018, 05:37:24 PM

Title: BTC/USD: High volume and overbought doji theory
Post by: dragononcrypto on October 15, 2018, 05:37:24 PM

Live Chart: https://www.tradingview.com/chart/BTCUSD/kdEaAhCl-BTC-USD-High-volume-and-overbought-doji-theory/

(https://i.imgur.com/BCw71rN.png)

Using the Coinbase Dollar (https://www.tradingview.com/symbols/BTCUSD/) pair for sanity sake, a fresh look at the charts. The USD charts are still real.

• The price has so far mostly sold off from the daily highs and resistance level of $6,800.
• Similar to in summer, October 15th has already seen high volume (16k) and will likely surpass August 22nd of 17k.
• The correction for the day will likely continue further towards $6,200 support, as uncertainty regarding USDT continues.
• The 10% temporary but high volume price spikes are circled in pink, reflecting a similarity worth considering.
• Pink line is the extrapolation of the August 22nd bounce in price showing a target of $7,200, if history were to repeat itself.

A lot is also dependent on WTF Tether (https://www.tradingview.com/symbols/USDTUSD/) is doing.