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 !!