Bitcoin Analysis in Shorter Time Frame
Following the numerous questions about when to buy bitcoin, what level is good to buy in...
So, I broke down the weekly chart and delved into the Daily BTCUSD chart, particularly from the last year or so.
Lo and behold! The customized system is working decently well, and daily Buy signals are accompanied by a crossover of the RPM. Two occasions this upward crossover did not have a Buy signal (because there was one already in effect) (see lilac dashed vertical lines).
Mostly, these coincide with resistance breakout levels and have the added condition of the RPM (Relative Price Momentum).
Current analysis puts it as the ongoing rally still has legs to go, probably beyond 60K, but it will end soon too. And it can retrace significantly too. To 40K, if lucky, else down to 24K.
IMPORTANT NOTE: This is a historical review and my personal research for shared for educational purposes only.
So, I broke down the weekly chart and delved into the Daily BTCUSD chart, particularly from the last year or so.
Lo and behold! The customized system is working decently well, and daily Buy signals are accompanied by a crossover of the RPM. Two occasions this upward crossover did not have a Buy signal (because there was one already in effect) (see lilac dashed vertical lines).
Mostly, these coincide with resistance breakout levels and have the added condition of the RPM (Relative Price Momentum).
Current analysis puts it as the ongoing rally still has legs to go, probably beyond 60K, but it will end soon too. And it can retrace significantly too. To 40K, if lucky, else down to 24K.
IMPORTANT NOTE: This is a historical review and my personal research for shared for educational purposes only.
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