A couple of days ago a friend of mine sent this chart to me where you can compare different cryptos on several kinds of data such as average transaction fees and, total transactions AND something called "Sent in USD". That is the one we are going to look at in this blog post/video.
Here is the chart:
Comment: The red line is Ethereum and Im going to use that as an example here. On the 29th of december we can see that Ethereum in this chart took out an old high and when we simultaneously look at the price chart we dont see much action for Ethereum, in fact it is going sideways.
Here is the Ethereum price chart:
Comment: What this means is that this could indicate that Ethereum is about to make a bigger move and this is the time to buy Ethereum.
Now, after this, Ethereum is having a major move to the upside that lasts all the way to the 14th of January and if we go back to the "Sent in USD" chart we can see that on the 15th of January we get a major pullback that could indicate that this move is over for the short term.
Now, if we go back to the price chart and look at the 15 of Janary we can see that the price of Ethereum is falling but not much, not even close to the action in the other chart. This is the time when we exit the trade.
Here is the price chart for Ethereum on January 15th:
Now, I have not looked at the other cryptos so this might not work for them, but I will continue to laborate with this chart for Ethereum is see if it will continue to be profitable.
Just wanted to throw that out there.
Here is the link to the site:
https://bitinfocharts.com/comparison/sentinusd-btc-eth-bch-ltc-dash-xmr.html#3m
See my work over at Steemit: https://steemit.com/@freeforever
Happy trading!