Should I sell my Bitcoin now and buy back when it drops?
Parabolic Signal That Triggered Past Bitcoin Bull Runs Reappears
The price of bitcoin increased by 5% today, briefly crossing $19,000. The present increase is the biggest daily increase both in 2023 and since the FTX crash.
More significantly, the sudden rally coincided with a level that, according to the weekly Parabolic SAR, signalled a potential trend change. The technical indicator has already lived true to its moniker. What might it indicate this time?
Bitcoin Makes Biggest Move Of 2023
Altcoins have had a successful start to 2023. But up until today, Bitcoin has been tame in comparison
More significant than today's events was what took place throughout the previous week. The Parabolic SAR was tagged by BTCUSDT (Binance) for the first time since May 2022. Bitcoin and other cryptocurrencies fell after the LUNA crash, signalling the start of the second, more violent decline.
Prior to both the bull market from 2020 to 2021 and the 2019 crypto rise, the identical Parabolic SAR signal was also activated (pictured below). Additionally, both rallies originated from the exact same trend line in the past.
On weekly timeframes, BTCUSDT (Binance) touched the Parabolic SAR, telling short traders to get out of the position. If bears had used the PSAR for trailing stop losses, they’ve now been stopped out — purposely — in profit.
While the signal isn’t a guarantee of continued upside, considering that the possible sign of a trend change has appeared alongside the coincidental timing of a long-term trend line touch, the recovery from this level could be more sustainable than many are ready for.
This is a one-time notice about a free service on steem.
There are communities that help support the little guy 😊, you might like ours, we join forces with lots of other small accounts to help each other grow!
Finally a good curation trail that helps its users achieve rapid growth, its fun on a bun! check it out. https://anentrypoint.github.io/school-of-minnows-landing/
A note on other bots warnings:
It's come to our attention that some of the people on this network (keys-defender run guityparties, and bots run by pfunk) have been attacking our advertorial notices by calling it a scam/fraud.
We have contacted the owners of those systems, we've shared our complete source code and processes, and explained that we've been running for longer that they have, and have been trusted by large subsets of users troughout, expressed all of our processes, which are simple, free, opensource and legitimate, and beneficial the blockchain and its users.
After doing lots of research and speaking to many other developers on this network, it's become clear that they use these false policing services to demote other projects in order to promote their own paid upvote scams and vote-abuse systems where they demote anything thats not designed to upvote their friends.
We respect their right to communicate what they want to, even if its false,however our project is highly respected, as well as open source, its already been audited by many users and its easy to confirm that there is no risk in using it.
Both our enrollment system and upvote bot is open source and whitelisted by MalwareBytes, accepted by Github, and we've serviced thousands of users since 2017, our bot is free and will only ever vote on your behalf if your idle reaches 100%.
We respect our users freedom, enrollement as well as unenrollment from our system is done directly on the blockchain and you do not need our services to join/leave.
Bot source: https://github.com/AnEntrypoint/school-of-minnows
Landing page source: https://github.com/AnEntrypoint/school-of-minnows-landing
School of minnows is FREE OPEN SOURCE software, we run the bot on our own resources and maintain it for free, if you have any questions about the platform, the quickest way to make contact is directly contacting the lead developer on discord: moonshine#6211 if you want to add a friend directly, or on the entrypoint discord: https://discord.gg/NED33mNpms
We are always active and happy to answer any questions you may have.