This chart is from Binance in weekly timeframe for BTC There are few things that just doesn't make any sense and i would like to point them out one by one in this thread I am not a professional trader or anything all my trade and chatting knowledge came from genuine youtubers
I have learned few things about volume analysis from @CryptoPointHi
Few days back you told us about this insane volume in Binance, which never happened in BTC history I have got two questions for you in the next thread
Bitcoin mzj HODL hodling
1. Blue arrows - This is of Last week, just see the volume and the size of the candle, yes we were at resistance, there was price absorption but this much? 2. Red arrows - See this week's volume till now and the price rejection against that, there was no inflow, still that much
I am not sure why, but it surely looks like this data of volume from Binance is clearly misleading and very much manipulated by @cz_binance
I know there is this ftx fud but still this volume is not making sense.
I have learned about trend lines, RSI,MACD, patterns from @CryptooAdy
Sir I also have two questions for you,I was comparing RSI divergence when I came through them, just let me know if my analysis is correct
Yellow trendline - This shows that the price is making lower lows but RSI is making higher highs, which means that it is a hidden bearish divergence
White trendline - It shows that even the price is almost constant in one place RSI is making higher lows, a bullish divergence
Clearly the bearish sentiment should dominate as it is hidden bearish divergence VS medium bullish divergence It can be seen that in RSI there is a rising wedge pattern, which could break downwards and that could send us to our this season's bottom(maybe) Right? @CryptooAdy
Now let's compare both the deduction We can see that there is more green volume candles than red in Binance BTC chart, which means that there could be a possible breakout upwards(above 24500) which could send us to test 28000 - 32000 resistance But charting shows us otherwise
Guys need your views on this one Or should I just conclude that @cz_binance is behind this and sleep like a baby🤣This post is based on this twitter thread.