What Does Bitcoin Have To Do With The Guppy???
The Guppy Multiple Moving Average (GMMA), developed by Daryl Guppy, an Australian trader is a technical indicator that identifies changing trends. The GMMA combines two groups, a short-term and long-term set of moving averages with different time periods.
Another great feature of the GMMA is its ability to detect the strength of the trend. If the separation of the moving averages are wide, you typical have a strong trend.
If the separation of the moving averages, typically denotes a weak trend.
Lastly, no trend is denoted by the moving averages being flat/horizontal.
Bitcoin’s “super guppy” indicator has turned green for the first time since January 2018 in a signal confirmation of bull bias on the daily chart.
The shift is a welcome development for the bulls, who’ve managed to steer prices away from the recent monthly low of $3,194, last seen four months ago in December 2018, all the while slowly mounting pressure against the bears.
So if the trend is your friend, the guppy is your puppy.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
I had not realized that correlation. Volumes continue to look good so hope it does settle up here a while as well. Chart also looks like a cup with handle formation is in the works!
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Great eye, I now see the cup and handle formation as well.