Bitcoin Bull Market Support Band Update

Bitcoin Bull Market Support Band Update




Time for an update on our Bitcoin bull market support band, considering that we have a new weekly close for Bitcoin. This bull …

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About the Author: Benjamin Cowen

34 Comments

  1. If you believe in the future,you understand that bitcoin and other altcoins is becoming the future despite fluctuations,I'm glad i started investing and am still getting returns irrespective of the markets fluctuations .

  2. This Thursday, when the CPI comes out, that's going to be a huge indicator for both stock and crypto markets. Currently, consensus is 7.3%, but imo, it's going to be even higher and closer to 8%. This is going to crush stocks and crypto. We'll see how investors in both stocks and crypto react and who is going to greedy vs fearful.

  3. Ben, big fan! Hey, at what point shall we consider these bands invalidated in this current cycle? The cycle is different, when we drop below the band last time, we were supposed to roll into crypto winter, but we didn't get it. When it breaks above in august, we were supposed to expect a new leg up, but we didn't get it. When we broke below again in December, we should expect crypto winter again, but we can't call it yet, since there's might be a chance we break above and we can't rule out the possibility of a fake-out. So the question is, what good does it do for this cycle other than telling us the price is up when it's up, then the price is down when it's down? At what point do we call this information a lagging indicator?

  4. Just an idea: -Given lengthening cycles, wouldn't it make sense that we shouldl use "lengthening" MA aswell? I just tried a 90 WSMA and we just bounced off of that. And wouldn't you know it… It actually perfectly calls the capitulation early 2019.

  5. In the stock market, the terms "correction" and "bear market" have defined meanings. A correction is a decline that is 10-20% from the most recent all-time high. A bear market is a decline of 20% or more. With crypto's higher volatility, I think it would make sense to double those ranges. So a crypto decline of 20-40% off the all-time high would be a correction, and a decline of 40% or more would be a bear market. There is no time component to those definitions.

  6. RIP Bear Market Resistance Band, we hardly knew thee. In your brief sojourn on Earth, you were misunderstood and hated by the world through no fault of your own. I hope you're in a better place now, a place where moving averages are happy and free. Lag no more, sweet friend.

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