@technicallyproduct
more from that month
Wow, anybody know what's being going on with LBRY (LBC) over the past 24 hours? Some strange spikes and a 30% drop overall don't look good! I see there has been some new coverage of the SEC case against LBRY but no actual new developments, as far as I can tell. https://news.yahoo.com/sec-goes-manchester-startup-issuing-080300114.html #CryptoTrading
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Purely from a technical chart analysis perspective based on what's available on Bittrex. 1. USDT and USD pairs are fairly new - LBCUSD - looks like an exit dump starting Jan21 - Liquidity looks to be extremely low - based on volume signature. There isn't a new low in but it is offset against BTCUSD price. If BTC drops there will be a new low. 2. BTC pair - Volume came in in September 2020 - but died off dramatically in Jan-Feb 2021 - Based on on-balance volume - the price was pushed up but sold into heavily ending Jan-Feb 2021. 3. Latest day looks like a capitulation candle - but is at a new low against BTC. Because of the weakness of the three charts, I wouldn't enter a trade unless it overcame 0.00000188 BTC - because of the low liquidity and then sudden pumps in price I would put a bias towards the last six months being a series of exit pumps that were sold into by larger players. Retail might have just capitulated. However - you'd want to keep an eye on it in case the recent BTC low is a final shakeout - but again you'd have to approach it with negative bias until proven wrong.