This is a simple study based on the LMACD indicator. This reading has been quite successful for Bitcoin on the short-term time-frames but can be equally useful on the longer ones. For this analysis in particular I am using it on the 1W time-frame where a Bullish Cross is emerging this month.
As you see this formation doesn't come very often for BTC on 1W. Ever since the previous Bear Cycle bottomed out, the LMACD posted a Bullish Cross four times. Out of those four times, two where in the middle of a rally when the Cross happened (Jan 20, 2020 and Apr 20, 2020) while the other two initiated a (massive) rally after (the Feb 18, 2019 took one month to start the rally while the Oct 12, 2020 started it immediately).
In my opinion the current sequence we're at looks more like the October 2020 one. The price is above the 1W MA50 (blue trend-line) and is coming off the completion of a Head and Shoulders. Also it is above the Ichimoku Cloud. In the other three LMACD Bullish Cross formations, the price was either on the Ichimoku or below.
So what do you think? If the LMACD prints a Bullish Cross, will it be enough to kick-start a rally? And if it does, will that be straight away or a few weeks after?
Feel free to share your work and let me know in the comments section!
Please like, subscribe and share your ideas and charts with the community!
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As you see this formation doesn't come very often for BTC on 1W. Ever since the previous Bear Cycle bottomed out, the LMACD posted a Bullish Cross four times. Out of those four times, two where in the middle of a rally when the Cross happened (Jan 20, 2020 and Apr 20, 2020) while the other two initiated a (massive) rally after (the Feb 18, 2019 took one month to start the rally while the Oct 12, 2020 started it immediately).
In my opinion the current sequence we're at looks more like the October 2020 one. The price is above the 1W MA50 (blue trend-line) and is coming off the completion of a Head and Shoulders. Also it is above the Ichimoku Cloud. In the other three LMACD Bullish Cross formations, the price was either on the Ichimoku or below.
So what do you think? If the LMACD prints a Bullish Cross, will it be enough to kick-start a rally? And if it does, will that be straight away or a few weeks after?
Feel free to share your work and let me know in the comments section!
Please like, subscribe and share your ideas and charts with the community!
--------------------------------------------------------------------------------------------------------
!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> sikret
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.