Our projected 3% drop happened as precisely as any trader can hope for.
While most beginner traders look at trendlines and support levels, advanced traders account for higher time-frame momentum and market structures.
This lets us make more accurate projections more of the time.
Traders can use our algo-assisted strategies to help stay in tune with the rhythms of the market with precise signal notifications and fully backtested strategy results. Check out the SparksterSignals link below.
Where to next for bitcoin?
With short time-frames showing an ongoing consolidation range we have to zoom all the way out to the 2-week chart to get some broader market perspective. Here we can see candle formation showing positive action in the past few candles with the current candle forming a doji (indecision candle) reflecting hesitation. If we hold around this level for the next week until candle close then we can expect the following 2-weeks to be a continuation of previous price action, perhaps taking us towards our 16% target at $14,000.
The moving averages show the force of positive momentum leaning into the current price. MACD also currently pushing up.
Check out SparksterSignals for strategy backtesting and optimisation.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
While most beginner traders look at trendlines and support levels, advanced traders account for higher time-frame momentum and market structures.
This lets us make more accurate projections more of the time.
Traders can use our algo-assisted strategies to help stay in tune with the rhythms of the market with precise signal notifications and fully backtested strategy results. Check out the SparksterSignals link below.
Where to next for bitcoin?
With short time-frames showing an ongoing consolidation range we have to zoom all the way out to the 2-week chart to get some broader market perspective. Here we can see candle formation showing positive action in the past few candles with the current candle forming a doji (indecision candle) reflecting hesitation. If we hold around this level for the next week until candle close then we can expect the following 2-weeks to be a continuation of previous price action, perhaps taking us towards our 16% target at $14,000.
The moving averages show the force of positive momentum leaning into the current price. MACD also currently pushing up.
Check out SparksterSignals for strategy backtesting and optimisation.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
