An analyst in the digital currency market says that the index of weekly bitcoin trading volume on the CoinBase exchange is accurate in identifying all price levels from 2017. He says that the next floor of the bitcoin price can also be determined by using this indicator.
According to the Daily Hoodle, digital currency strategist Kevin Swenson explained in a new video to his 68,200 followers on YouTube the importance of the trading volume index of Kevin Base, the largest stock exchange in the United States. He said the index is an accurate tool for identifying turning points.
He says in his video:
The best indicator that almost never disappointed me was the weekly volume of Bitcoin trading on the CoinBase. The YouTube channel and my analysis are known for this indicator. I keep talking about this indicator and I set the ceilings and ceilings of bitcoin only by using it.
“Sonson said, ‘
When bitcoin was at its peak in 2017, volume [معاملات کوین بیس] It had risen sharply. Then, when the price reached $ 6,000 and turned it into support, Kevin Bass’s weekly trading volume increased again. At the end of the decline in 2018, again when bitcoin reached its bottom, the exchange volume of this exchange jumped.
He said about the market situation in 2019:
In 2019, when bitcoin peaked at $ 14,000, the volume of transactions with CoinBase rose sharply again. Then, when the crown virus began to spread around the world, the price of bitcoin fell to the bottom of $ 3,800 and its volume [مانند دفعات قبلی] It increased sharply. Bitcoin then reached $ 30,000, the main support these days, and again its trading volume was justified by a jump.
In order for investors in the digital currency market to be sure that bitcoin has reached its lower price, Asson said, the volume of trading in this digital currency must increase sharply after the recent correction.
He added at the end:
This increase in trading volume is unlikely to occur at the same time as the price jump; Because the formation of upward trends takes time. Growing markets are known as livestock markets, and cows are conspirators and work together as a herd to raise the price of an asset. However, descending markets are known as bear markets; Because bears are alone and act alone. They enter the market on their own and lower the price really fast.
The publication of Digital Currency Analyst: A valid indicator determines the lower limit of the price of bitcoin first appeared in Digital Currency.