ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The Price Action The excitement did not last. On October 25th and 26th, Bitcoin (BTC/USD) soared out of nowhere, and it interrupted my expectation for an imminent opportunity to accumulate for Bitcoin in the $6500-7000 range. That opportunity is finally here as a month-long slide accelerates. Wavering Signals from The Google Trends Momentum Check The … Read more
The “imminent launchpad” I expected for Bitcoin (BTC/USD) prices over a month ago quickly turned into a capsized boat. At the time, Bitcoin was pivoting around its 50-day moving average (DMA). In the week after my last post on Bitcoin prices and the Google Trend Momentum Check (GTMC), the GTMC broke the low from June … Read more
Bitcoin (BTC/USD) made a major peak on June 26th. Since then, the cryptocurrency has pivoted around its 50-day moving average (DMA). Three breakdowns of that line of support have been met with buyers which suggests to me that Bitcoin is consolidating a launchpad for imminently higher prices. The Google Trend Momentum Check (GTMC) supports my … Read more
As Bitcoin (BTC/USD) pulls back again to the $10,000 level, there is a lot of news swirling to explain the sell-off. Google Trends still works as a way to cut through the haze on Bitcoin. Fresh Validation for The Google Trend Momentum Check When Bitcoin ended its last parabolic run on June 26, Google Trends … Read more
Bitcoin (BTC/USD) continues to provide great data points for using Google Trends to assess the sustainability of significant price movements. So many milestones have occurred in such a short period of time that I decided to name this process: the Google Trend Momentum Check or “GTMC” for short. The latest example of the GTMC occurred … Read more