ETN - Weekly Chart

Hello friends, I am not a chart expert, but those who are, please validate or correct. Here is the Heikin Ashi weekly ETN chart. Look at the trend since March, we have been in downward trend (Kucoin has only from March) In fact we have been in this trend since Jan like any other crypto - no surprise.

Take a look at the volume in September 17 - week (this week). It is the lowest so far. Volume has been also been in downward trend. The selling pressure has been reduced drastically. No more sellers. Even when BTC went down today, ETN didnt go down because we don’t have any sellers (may be a handful out of ASICs) I guess we reached / almost reaching bottom. We may consolidate between 70 to 90 Sat for sometime before we move up. I am happy that the selling pressure is over and the reversal is just around the corner. I would say we are in accumulation zone and will move sideways before we break the trend. Waiting for the first green… Any experts to suggest if I am right or wrong ? Thanks !!

I hope you are wrong. Thanks for your insights though :slight_smile:

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All want to buy at the bottom, that means they need a confirmation that this is the bottom. So the question is: How will teak the first step, the sellers or the buyers. This is a standoff.

Sellers: price go down
Buyers: price go up

I didn’t expect this sudden drop…I thought the so-called experts said the market has bottomed already.

That is what I said on CCN on certain articles. I’m fighting constantly with those ‘‘expert analysts’’ that speak about MACD lines, trends and other crap like this. I keep telling them that these things don’t work in this market like in the stock market. And they work in the stock market because you can’t make too much profit out of it.

Yes. If a BTC whale decides to short 10000 BTC, we would see a new low. But in the end it doesn’t matter, as they do this to keep the price low, until all the big players will enter the buying frenzy once again, and the market could easily rise to new highs. If they wanna make real money, like the previous year, they can’t stop us make money at the same time. I know they don’t want to let normal people make money, but their hands are tied.
I am new to this, meaning January 2018, but I am right about the fact that this market can not be predicted, as experienced analysts try to.

Analyst do mistakes, but often got it right. Someone told me that i am shattering peoples dreams by telling that the price could go down or the price might only go up a few cents. Buy when the market show fear and sell when it is euphoria.

Yeah but that is just trying to match the statistics of last year with the same period this year. Which in this market couldn’t be any more wrong, as it fluctuates from day to day, not speaking of year to year.

we have lately hade a bear flag that indicate a down words trend and that needs to be broken. howe and when i can’t tell, but my guess is that we can see that in 3 hours if we hit my mark at 6000$ BTC. The BTC shorts have formed a bull flag so more people are betting BTC down. If you lock at the chart i posted yesterday i was to conservative in my estima and should hawe open a short position in BTC.

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