Bitcoin (BTCUSD) just flashed one of the rarest buy signals on the 1W time-frame. The Bollinger Band Width Percentile (BBWP) bottomed at 0%, giving a narrow width signal. Historically, when the price was above the 1W MA20 (red trend-line) during that signal (4 times/ green circle), it skyrocketed shortly after, while when it was below (1 time/ red circle) it dropped massively.
At the moment the price is on the 1W MA20 and it will be interesting to see if BTC closes above or below it, as it can influence the trend of the coming weeks. What do you think, will it close above it and skyrocket or below and decline? Feel free to let us know in the comments section below!
Great publication. You can see that you have worked through several timeframes, the older timeframes also support your arguments. Thank you for your work!
kcj9x2kyt5
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Lmao
jbrinkley
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@
MichielVan_Kets
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com'on, have a good look at it ... I'm allowed to brag ;-)
VincePrince
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Great idea.
jpeacockfx
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Nice longer term view. This could be one to watch!
The_Bitcoin_Boy
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Interesting idea, but you somehow skipped over the most relevant data point, being September 2019, when the price was closing in on the 20 week MA from above in the middle of the pre-halving year (where we are now). From there, the price slowly broke down as it headed into the 2020 recession, highly similar to now, given a 2023 recession seems likely.
Leo-btm
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awesome
FX_Professor
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Tradingshot for the win baby... breakout today bro?