ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Bitcoin (BTC-USD) broke out to a 13-month high this week, and Google Trends likely confirmed the move just like it confirmed the big April breakout. Google Trends provides an index showing the relative changes in the popularity of Google searches. On the same day that Bitcoin broke out, June 16th, Google searches on “Bitcoin” jumped … Read more
Google Trends continues to serve as a relatively good guide for identifying buy and sell points in Bitcoin (BTC-USD). As the latest example, I used Google Trends to decide to take profits into what looked like over-extended price action on May 13th. The next day, Google search interest peaked. As a reminder, an extreme in … Read more
Bitcoin (BTC/USD) is putting the Google Trends indicator to the test. The price of Bitcoin is surging at the same time this key indicator of sentiment is also surging (on a relative basis). Per the Google Trends hypothesis I have demonstrated over time, this surge in excitement is signaling an imminent reversal in the parabolic … Read more
The Price Action A little over a month ago I made the case for a sustained bottom in Bitcoin (BTC/USD) based on the price action combined with Google Trends. I stated the following hypothesis: “a spike in search interest confirms a strong change in price behavior.” The on-going uptrend since that point proves out the hypothesis in … Read more
When I used Google search trends to confirm a buyable breakout and sustainable bottom in Bitcoin (BTC/USD), I created the following hypothesis: “a spike in search interest confirms a strong change in price behavior.” With Bitcoin breaking out again, the hypothesis now looks solid. The chart below shows Bitcoin jumping to a 5-month high that … Read more