1900 coins to 278 this could get ugly for the bears.Bid side is drying up.
The same old story again and again...when will it stop? People are telling this shit since the very beginning of the fall from ath.
Once again: When the price drops quickly the ask side is normally very thin. It has various reasons, for example that sellers did not yet had enough time to fill up the ask side but also that panic has started and the most sellers are not interested in putting up asks but instantly market sell. Then there comes the effect of margin called long positions, stop-losses and so on and so on...
...a thin ask side is absolutely not bullish just as a thin bid side is not a reliable indication for a bearish development. A movement upwards with a volume of 1900 coins to 278 would be a low volume rally and probably result very bearish.
Better for the buyers to wait till ask side has grown strong...and move upwards with high volume...so they can buy more on cheaper prices and at the same time confirm a bullish move.
Why all you permabulls are such fans of low volume rallies? They always result in an even stronger countermovement.
