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 tweet we've seen has been at the top of nearly every single rally, giving us a very strong sell signal.
With every 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 tweet, we typically see on average a 30% return.
In the last week, we've seen 3 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 or 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 nor ."
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!
Nope, still works like a charm.
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
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.
Target zone of previous resistance turned support around $6600 hit perfectly.
Solid 2% drop. If on leverage, would have been a great short trade.
They will literally tell you to buy the top and sell the bottom.
They simply emulate and magnify whatever the market emotion is at that point in time. And these emotions usually are at their highest when we are close to a "top" or a "bottom".
Its funny how you can almost take the exact opposite to what they are suggesting and come out in good profit most of the time!! >:-)