sandipan.mch
Long

WYCKOFF ACCUMULATION IN BITCOINS

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
disclaimer... not an investing/trading recommendation
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Very interesting, volume surge at support meaning ppl are 'buying the dip'? accumulation, and start of a reversal ?

but logically, it's not 'the bottom' if someone still selling, so reversal to bull market should start at low volume, do i get that wrong ?
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@MrShushu, u are absolutely correct about the buying the dip concept when the vol surges at the support...

i would ask u not to generalize volumes, as it is a tricky phenomena... every bull market starts at reversal point hen the demand exceeds supply... essentially, supply is lower in situations when the ownership of the scrip us in strong hands.... in practice most of the times the strong hands starts buyign from a point , a process called absorption from weak to strong hands... now after this absorption is complete, 2 scenarios might happen, the more common is huge surge of volumes and inspite of that, prices trending up... the second scene is , uptrend in very low volume, meaning a situation where there is very less sellers left in the system, this is a stronger case of reversal as the absorption has been tremendous , compared to the first case, where weak hands are still seller, who have been left to be absorbed..

the first scene is typical in 2017 reversal in djia....