Interesting, the volume ... decrease.
More waves for october/november ... or january ?
I find the weekly volume to be a better indicator than the daily volume - and even a better indicator than the 3 day volume bars.
Whales move their volume in a couple day (or even several day) increments, so frequently, it is difficult to see through some of the noise when you attempt to rely upon either the three day candles or the 1 day candles to make trade volume trend determinations. Also sometimes it takes several weeks to come to any kind of meaningful conclusion about whether BTC trade volumes are up, down or flat.
Personally, I have tentatively determined that at this time, we are in about a 20 week streak of higher than average BTC trade volumes, and the previous time that we had this kind of streak of higher than average BTC trade volumes was in late 2015 - which was in the lower 20 weeks. That streak was about between early August and late December 2015 before we experienced a kind of consolidation period. Surely the battle was not resolved in 2015, and later we realized that the bulls had won that battle; however, largely we were not able to clearly come to such conclusion until after the about 6 month consolidation period in which in May 2016 BTC prices clearly and unambiguously broke above $500 - never to return to those levels (so sometimes it can take a considerable amount of time to actually see what is happening and to determine either what the shorter term outcome has been and possibly figure out if we are in a bear market, bull market or still transitioning in some kind of way).
Surely, BTC trade volumes can dry up at any time; however, I am thinking that currently, we have so much fucking craziness going on in the crypto-space (certainly including bitcoin) that we are likely to continue to have these kinds of price battles and above average trade volumes continuing from here and until at least the beginning of 2018. By the way, a price battle means that the sides cannot agree about the current price and they are willing to bet money in each direction in order to attempt to get their way and to get the price to move in the direction that they believe it should go. Of course, bears are betting downwards and bulls are betting upwards. So, yeah, I don't know what it is going to mean in terms of the BTC price or the resolution of the BTC price in this clearly ongoing battle that is about week 20 of its current iteration; however, as I type, I think that there are pretty decent odds that bulls are going to win this particular BTC price battle - and especially by sometime before early 2018 (could happen sooner or could happen later) and due to the likely victory of the bulls (maybe greater than 58% chances?) we are going to get overall upwards BTC price movement before we get downwards - and that BTC trade volume will only go back to more "normal" levels after these up and down price movements and battles have resolved - in either direction... and like I already asserted, it could take several months for the battle and the movement to play out.
