CNBC Bitcoin Indicator Gives An Insane 95% Accuracy For Bitcoin.
Hey guys, my first chart was deleted for adding my social media profile links at the bottom, so I'm re-uploading this one.
I was #1 in Trading View for a while. Hopefully I didn't violate anything on this one...?
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I'm sure that you've heard that CNBC is a good contraindicator, well I decided to put it to the test.
After back testing what I like to call the "CNBC Bitcoin -0.78% Indicator," it is giving us a clear buy signal in this new range.
Almost every single bullish tweet we've seen has been at the top of nearly every single rally, giving us a very strong sell signal.
With every bearish tweet we see, it has been a clear indicator of a short reversal and end of a rally.
#1 - 90% return.
#2 - 26% return.
#3, #4 #5 - 34% return.
With every bearish tweet, we typically see on average a 30% return.
In the last week, we've seen 3 bearish tweets from Twitter, which gives us a clear indication to go long here.
Based on our 30% average returns, we should see a strong rally back to the $8500 area, where we will then wait for more bullish or bearish tweets to let us know which way we are going.
I believe this is a perfect reflection of the emotions of average traders and investors, which is why it's such an effective strategy.
I'll be updating this more as we move forward to see how this trend continues.
After I posted the chart, I received over 1.1k likes on Twitter and CNBC even sent out a tweet saying "This tweet is neither bullish nor bearish."
I then received a call this morning FROM CNBC for potentially coming on their show.
Thanks for the lover and support. Will post more soon!
I was #1 in Trading View for a while. Hopefully I didn't violate anything on this one...?
-----------------------------------
I'm sure that you've heard that CNBC is a good contraindicator, well I decided to put it to the test.
After back testing what I like to call the "CNBC Bitcoin -0.78% Indicator," it is giving us a clear buy signal in this new range.
Almost every single bullish tweet we've seen has been at the top of nearly every single rally, giving us a very strong sell signal.
With every bearish tweet we see, it has been a clear indicator of a short reversal and end of a rally.
#1 - 90% return.
#2 - 26% return.
#3, #4 #5 - 34% return.
With every bearish tweet, we typically see on average a 30% return.
In the last week, we've seen 3 bearish tweets from Twitter, which gives us a clear indication to go long here.
Based on our 30% average returns, we should see a strong rally back to the $8500 area, where we will then wait for more bullish or bearish tweets to let us know which way we are going.
I believe this is a perfect reflection of the emotions of average traders and investors, which is why it's such an effective strategy.
I'll be updating this more as we move forward to see how this trend continues.
After I posted the chart, I received over 1.1k likes on Twitter and CNBC even sent out a tweet saying "This tweet is neither bullish nor bearish."
I then received a call this morning FROM CNBC for potentially coming on their show.
Thanks for the lover and support. Will post more soon!
Comment:
Yesterday, we saw a bullish tweet and a bearish tweet come out within about 10 minutes of each other.
CNBC is starting to use a very smart hedging strategy.
Hedging is where no matter which direction a security moves, you've got a way to
make money.
Will continue to monitor as time goes on. I would not be surprised to see massive moves both ways based on the fact that they are bullish and bearish.
CNBC is starting to use a very smart hedging strategy.
Hedging is where no matter which direction a security moves, you've got a way to
make money.
Will continue to monitor as time goes on. I would not be surprised to see massive moves both ways based on the fact that they are bullish and bearish.
Comment:
Solid short term short opportunity with the last tweet. Definitely bullish in nature gave us a strong R/R set-up witting at strong resistance around $6800.
Target zone of previous resistance turned support around $6600 hit perfectly.
Solid 2% drop. If on leverage, would have been a great short trade.
Target zone of previous resistance turned support around $6600 hit perfectly.
Solid 2% drop. If on leverage, would have been a great short trade.
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Nope, still works like a charm.