Long Term Update: Solid Uptrend

I’m going to show you a new concept that i’ve introduced in the recent posts, the “net volume” or a security’s uptick volume minus its downtick volume over a specified period, in this chart it’s 1 week. It is a main concept the “net volume” for the trader that trades on volume togheter with “volume at price” and “vwap” or volume weighted average price; all tools aimed to understand when and where to trade using volume data.

Well, going back to our chart on the left you can see how it’s developing a strong net volume weekly bar very similar to what we’ve seen in the april-june bull market. This is very positive and it means that buyers are getting in again after a prolonged period of weakness. I think that the net volume it’s a nice tool to confirm the presence of an uptrend/downtrend and you can rely on it for your trading decisions

I’m still long from 3.22$ and i basically bought after 2 consecutive weeks of positive net volume, a confirmed long signal with the weekly inverse RSI fisher transform oscillator and a slightly positive weekly moving average.

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2 thoughts on “Long Term Update: Solid Uptrend

  1. vcwb

    The market will be up because the market thinks it will be up. The market will be up because the market thinks the bitcoin will provide new opportunities for businessmen to expand their business.

  2. adsense

    Enky first i would like to thak you for reading between the lines in the
    overall bitcoin markets . while i dont agree with you at times i do follow your thoughts,
    have you looked at the transactions number chart ??
    i realise that nobody i know of looks at this i will say it has tended to lead the market .
    worth a look

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