✅ Strong Indicator? - Bitcoin
Hello peeps,
We all know that the current market capitalization and the bitcoin price are not moving quite much since days... we had a rush to almost 10k but from there is following a well known indicator. The dashed blue line (you can see it on the picture above) is composed by all the minimums registered since 2017 and it has served me to be "sure" about where to buy/sell Bitcoin. Bitcoin's price follows the "trend line" in a very close way, something which surprise me a lot since I included this indicator very quickly without taking it too serious.
** THIS IS NOT FINANCIAL ADVICE **
I would like to ask you something: what's your stronger indicator? I would like to know what is it !
Have a good day
My own suggestion about the blue indicator is showing the current and future support and resistance levels. When the price is below the cloud, the lower and upper edges of the cloud both act as resistance. When the price is above the cloud, the upper and lower edges act as support.
I guess the fall of bitcoin price was due to the report on monday from twitter about banning of cryptocurrency advertisement and token sales globally.
I'm usually not one to use many indicators but if I do use them its usually MacD and 7/21/50 day moving average there are some great patterns to trade using the moving averages but if you're like most and look at BTC, or cryptos in general as a potential to be the "future" than a bullish MacD crossing can make a good buy opportunity. (Not financial advise but my opinion)
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