I've never seen volume this low.
Wow that is bad... like... really bad. No one is selling (yet), but more importantly no one is buying. Even after two weeks of red.
At the same time the full moon was yesterday and the official deadline for taxes in the USA is tomorrow. By all accounts we should be moving into another bull cycle (or at least hover sideways for a while). This piss-poor volume is telling another story.
This leads me to believe that we are about to step in a bear trap.
This market is still fearful, and this idea that $40k is a meaningful support needs to be exploited once again. I think we are about to see a slight crash down to around $37,500 to fleece all the suckers before we hard bounce back up toward the end of the month.
No one said the road to moon as easy.
The best strategy for most of us has always been lalala-I'm-not-listening-hodl-hodl-hodl strategy. Trying to make money on trades always seems to backfire. The market has our number.
The only sure-fire way to outtrade this market is to constantly play it safe, maintain balanced positions and DCA over time during nominal timespans (weeks/months). Let's be honest, hardly anyone has the self-discipline to actually employ this strategy. It's very much a do-as-I-say-not-as-I-do scenario. Even though I'm constantly harping on this strategy about how it is the best, have I actually ever done it? No! I'm constantly all in and just hodling away with the rest of the hodlers. Big wins and big losses; fun times. Gamble Gamble.
Conclusion
Just really wanted to get this prediction out there. I've never seen volume this low. The only way we can go up from here is a complete and utter supply shock. Not impossible, but also not super likely. It's far more likely the idea of a $40k support line will be exploited for one last bout of fear before we begin to move up. Thinking something like $37500-$38500. Don't forget, higher lows are bullish (unless we're trapped in a quickly diminishing ascending triangle).
In the end, we've bled long enough, and summer is coming. If somehow April trades under $40k by the end of the month that would make this April the worst April of any April for the last ten years. Somehow I doubt that will happen. Bullish cycle incoming, but we may need to fleece the timid sheep on crypto Twitter one last time.
Posted Using LeoFinance Beta
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