Topic: : - page 4. (Read 70883 times)
Asking myself, where is the volume?
I am looking at the 30-day hourly chart and it seems to me that the first week of January is the answer to your question.
Volume was all spent driving us from the steady trading range of $5 up to $6 and then to $7 dollars.
The volume is played out, for now. Everyone seems to be hedging on the next big move before buying or selling.
A proper correction would have us trading around $5, but instead we're stuck hovering before the next rally or slip downward.
So we ate through two days of resistance and filled in the support. Good weekend everyone, get ready to continue the rally.
Please comment your picture.
Does it mean that we are at "equal opportunity" point?
Where do you think the price will go ?
Does it mean that we are at "equal opportunity" point?
Where do you think the price will go ?
The chart is not intended to show a direction for price, but to give you an idea of how far to expect price to move given a certain amount of volume. Since it is based on long term data I consider it to be a better guide for judging support or resistance than market depth, which can change at the drop of a hat.
For me, its the times when those Support/Resistance slopes look like the MtGox depth that confirms the predictive value of chodpaba's charts
Please comment your picture.
Does it mean that we are at "equal opportunity" point?
Where do you think the price will go ?
Does it mean that we are at "equal opportunity" point?
Where do you think the price will go ?
I believe it could go either way. If people knew they would already have made their moves. Up to the first big mover perhaps.
You can see our next stops on that chart... they're the plateaus 
That would be price on the right side of those flat spots in the curve. Price has less friction on those 'plateaus'. It doesn't describe how fast price moves through the range, but how much volume it is likely to take. The resistance curve says it should take less volume to move through a price range on the flat spots.
Right, I meant the right side (should've made that clear).
Your chart's outdated 
The walls are all falling down now. Only a matter of time before $6, $8, $10, $30.
So, lets see if I'm reading it right. Assuming we're in a bull market, it would take 4 days of "average volume" rallying to see $6.
Although, I'd say the recent "price moving" rally's have been higher than "average volume". In other words, we've seen some high volume spikes.
Although, I'd say the recent "price moving" rally's have been higher than "average volume". In other words, we've seen some high volume spikes.
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