Bitcoin, what do the indicators say about this terrible fall?
Updated
Today we will analyze bitcoin from the side of technical analysis and from the side of our trading systems.
The left chart shows our "Renaissance" trading system. As you can see, the system works very well. For the last trades, the strategy brought us (+29%, +0.22%, +29%, -5.8%). This strategy almost at the very top of the market showed an exit and for two months already we are waiting for a new signal to buy.
Now the lines have reversed and are starting to approach each other, which is a good signal. In case of crossing we will get a signal and a good opportunity to buy.
From the side of technical analysis, bitcoin has been in the range of 60K - 30K for 400 days already.
At the same time, we see that the middle of the range (42 thousand dollars) could not keep the price. And bitcoin fell to the level of $34 thousand. At this point, we can distinguish the lower boundary of the range. Gathering liquidity may be a good buying opportunity. We also want to mark out the fundamental value zone, we don't know if the price will correct to this zone now, but if it happens, it will be the best opportunity to buy.
We analyzed it in more detail in last idea!
The left chart shows our "Renaissance" trading system. As you can see, the system works very well. For the last trades, the strategy brought us (+29%, +0.22%, +29%, -5.8%). This strategy almost at the very top of the market showed an exit and for two months already we are waiting for a new signal to buy.
Now the lines have reversed and are starting to approach each other, which is a good signal. In case of crossing we will get a signal and a good opportunity to buy.
From the side of technical analysis, bitcoin has been in the range of 60K - 30K for 400 days already.
At the same time, we see that the middle of the range (42 thousand dollars) could not keep the price. And bitcoin fell to the level of $34 thousand. At this point, we can distinguish the lower boundary of the range. Gathering liquidity may be a good buying opportunity. We also want to mark out the fundamental value zone, we don't know if the price will correct to this zone now, but if it happens, it will be the best opportunity to buy.
We analyzed it in more detail in last idea!
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