The Coinbase Premium (CBP) is currently signaling "oversold". This is an indicator which identifies extremes in the price of 
BTC on Coinbase in relation to the average of the Binance and Bybit BTC price. The CBP has done a pretty good job over the last few years of identifying levels of high and low risk for the price of $BTC.
BTC on Coinbase in relation to the average of the Binance and Bybit BTC price. The CBP has done a pretty good job over the last few years of identifying levels of high and low risk for the price of $BTC. Trade closed: stop reached
Well...we did go up for a while, but then farther down. I'll say this one was a failed call for the CBP. We did end up going higher later though. This is a good reminder to ensure you have confluence in a number of indicators and context to act. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.