Do you attach any significance to the volume in ETN over the past 24hrs, ($860k) being at it’s highest level in nearly a month?
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And once again the exchange with the highest volume is Liquid. ETH/ETN and QASH/ETN. Kind of odd in my opinion
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I am thinking more along the lines of a comparison with the last sustained price increase back in September.
On the 19th Sept the price was 0.005541 with volume of 222k. The next day we had volume of 1.16m and the price went to 0.007079 and it went from there to over 2.5c. ETN volume yesterday was 293k and today, so far, it is 863k. Obviously, the main difference is that there is really no difference in the price from yesterday to today. The charts above tend to suggest/lean toward a significant price breakout and just throwing another component into the mix to see what others with TA experience make of this?
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There is one variable in TA that can not be predicted or analyzed until after the fact (unfortunately). That variable is volume. Volume is only a variable that can be used when making an educated guess on whether a rally/drop is sustainable or a fake out. Personally, I don’t even look at volume unless it is after a price movement. Other than that, it’s just an interesting measurement that doesn’t mean a whole lot except trades are being made. But I’m no expert TA person, I’m just a simple charter of trends.
With that said, I’m not really sure what to make of the higher volume with no price movement. I have theories of course. But, none that I’d be willing to share out loud because even I don’t know if what i’m thinking is right or wrong.
What I will say is Electroneum (the company) and Liquid the exchange are very close partners. We also know that there are two major projects Electroneum is working on as we speak. Do they involve Liquid and have anything to do with this volume spike in the form of back end testing of trade washing? I don’t know. But I would not bet against it or think too much of it for now. We are all in a wait and see period of time at the moment. Feb can’t get here fast enough…but I’m sure when Feb comes, there will be something “new and exciting” due out a 2-3 months later for us to set our excitement sights on…there always is, but it does get old waiting for the next exciting day.
I think we all want the platform live and working so bad that we are focusing our attention on every little detail…but all we need to really do is sit back, relax and be patient…and accumulate as much as possible.
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Here is an example of how volume is used to help determine direction. I’ll use BTC as an example below because everyone is so happy it is rising.
Ignore all the yellow lines, I’m too lazy to delete them all right now. Focus your attention on the purple lines. One shows the price increasing, the other shows the volume decreasing. This is what I call a fake out. If that trend continues, you can expect the price to fall because there is no follow through on the volume that caused the price to increase in the first place. Granted, BTC is up against a lot of resistance right now, but the telling sign that we will most likely dip is the decreasing volume. With that said, all it takes is a ton of buy volume to come in and move the price even more…but with the current trend, we’re going to see a dip…which is what I’m waiting on personally ;p
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Thank you for that perspective on ETN/Liquid Cryptoman976… most helpful and thank you for the chart with succint words.
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I dont like this. If btc go now, we go to. Down. See on the last flat, we went down heavy. Dont like that those nice tops moving up ended.
I am one of the people that is convinced we’ll see one last capitulation event before we make an actual market turn around. I could easily be wrong a long with many others…but I’m not buying anything until I see it happen unless I see real bull signs indicating we are in a reversal.
The good news is ETN seems to be holding up…we have actually gone down 9 sats since BTC went up so it appears we are keeping more to a USD value than a sat value. It appears we may be decoupling from BTC which I believe is the whole goal. I just wish we were higher priced before that happened;p
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Please help me understand more about decoupling from BTC as the trade volume in USD is tiny, compared to trade volume in BTC - how would this work through?
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I have not looked into it much to be honest. ETN does not have a USD pairing. But it is holding steady to the USD price in he $0.0062 range. There are other fiat pairings that would be based off USD value (seeing all fiat is based off USD globally anyway). What I do know, and have witnessed today, is the fact sat value is dropping as BTC price rises to hold the USD price in general. When BTC dips, it will be interesting to see if ETN sat value increases.
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I was thinking that when traders see BTC rising they get out of altcoins to get back into BTC, which reduces the altcoin sat value as they want to clear the altcoin position as quickly as possible, but I am sure there are some flaws in my thinking?
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no flaw at all…that is a valid way of thinking, especially if BTC is starting to move up. But this is not a tactic I would personally do because there is a lot more money to be made keeping your money in lower cap coins. But to each their own.
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Presumably day traders are just looking at the next biggest potential gain and have less loyalty to the coin.
Although some traders may view certain coins as having long term potential perhaps their thought is they can ride the crest of the wave with BTC and then switch back to alts when they see potential parabolic/significant gains/moves?
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Yeah we have a nice break out UP on that bullish pennant, but volume is still low…
Being a somewhat fanatical crypto maximalist, I hope $4400 is broken soon ™…
#AllIWantForChristmas is a Bull 
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We’re stuck on the line, but we need backup.
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As we try to determine if the BTC pump is real or a fake out, let’s take a look at ETN because by and large it is not really changing much on average. We are seeing swings between the 190 and 200 range but we are not seeing it do any sustained moves either way.
Here’s the Cryptopia chart:
I have an adjusted, more drawn out, ascending triangle in bold purple now that we seemed to have broken bearish in the old triangle (dotted line). We are getting some very harsh resistance at the 195-196 sat range which is now where the former triangle support line is acting as resistance. Depending on what BTC does over the next week, I’m not confident we’ll break above that 195 range for any sustained period of time without some sort of new catalyst, like iOS and cloud mining implementation into production.
The RSI is almost exactly at the 50 neutral line indicating we can go either way while the stoch RSI indicates we are oversold and should move up as we are sitting on a support line now…so my guess is we’ll go up to test 195 again.
What I expect is the bold triangle to play out and meet the 202 resistance line closer to the tip (which ends on December 28th). But I suspect we’ll have a break one way or another 2-3 days before, which puts it square on Christmas day…which is interesting.
Will we have a very merry Christmas? Or will we be weeping as we watch our children open their presents we can no longer afford to pay for? LOL!
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I know very little about TA but I want to ask a question.
Why does the bold purple triangle support line pass through the red candle on the right, not under it?
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All year have been a long weep, or walk of shame… so why dont go down with the ship as a new year rocket! 
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Great question!
Answer: Because for a line to be confirmed, it requires three touches. You want to use closed candle touches as much as possible, but wicks can be used as a subjective substitute. You can see the second touch on that line is a wick, thus setting the trajectory of the rest of the line to where it is now.
If we get a candle close along the tame trajectory as the red candle close you are pointing out, then that line will be adjusted and be a much more “confirmed” line of support using three closed candles as opposed to 2 closed candles and a wick.
Great question, thanks for asking.
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