BTC Update 7th October

Update curtiousy of Edward Morra

This is the lowest recorded daily volume in more than a year at least (as much as I could squeeze on the chart leaving chart readable) while hovering around the POC (point of control) of the whole 2018-2017.
This is combined volume from various exchanges.

This daily volume is noticeably lower even comparing with similar low volume days in the past.
By examining that, we see that during the bull 2017 market they led to moves higher, while 2018 bear market has these days mixed (we had both local dumps and pumps)

If you already not in the position from significantly lower or higher, I'd not suggest you to take a position now, risk of being stopped out is high to the both sides. Although, we might assume that chances of breaking down are higher simply cause we are in the bear market (well, obviously). But still, feels like a coin flip at this point. Much safer is to trade alts while they offer that chance and remember to stay safe and be careful, bear market is not over.