BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Whenever there is a possible trend flip, we want to look at any clues that we can to understand if there is going to be a change. In this chart we have TOTAL, TOTAL2 , BTCUSD , and ETHUSD all compared to eachother. February 24th, 2020 is the date for "Volmageddon". Here we have 3 of the 4 breaking trend and going from bullish to bearish . The only one that stayed bullish was ETHUSD . This gave us higher confidence of a trend reversal to bearish . So what is different about today?

As of September 3rd, 2020, we have 2 of the 4 breaking trend from bullish to bearish , with the other 2 remaining bullish . So it is a little more of a toss up. When something is 50/50, the trend is more likely to continue than reverse. So even though there may be more bearish downside in all 4, the chance of a trend change is less likely. So until we see the other 2 break bearish , we are selectively adding capital back to the market.

Happy Trading!

Comments

Excellent work!!
BTC price is getting close to the active trader group’s purchase price, which means a decrease in supply (reluctance to sell when not making money in a bull run).
These occurrences indicate good dip buying opportunities.
What do you think of our idea?
+1 Reply
derzzycharts Phi-Deltalytics
@Phi-Deltalytics, This is really good stuff. Let's see if we break through or fail at resistance.
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Phi-Deltalytics derzzycharts
@derzzycharts, yup, will be interesting to see how we react to the 11.3k level.
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NiceIdea
Reply
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