How to Use the Google Trend Momentum Check (GTMC) With Bitcoin Prices

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

Bitcoin Breakout: A 13-Month High Confirmed By Google Search Trends

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

Bitcoin Price Action Burdened By Google Search Trends Indicator

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 Price Gets Extreme Relative To A Surge In Interest

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

Bitcoin Hits Milestone Yet One Indicator Looms As An End to Price Surge

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

Bitcoin Breakout: A New Multi-Month High As Interest Holds Steady

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

Bitcoin Reawakens: Price and Search Trends Signal A Sustained Bottom

I have finally jumped into the crypto-era. Bitcoin broke out into the first “convincing” and buyable technical pattern I have seen since the bubble burst over a year ago. Breakout Anyone who follows cryptocurrencies knows by now that Bitcoin (BTC/USD) broke out last week. The move was a powerful one that launched the cryptocurrency out … Read more

Above the 40 (December 17, 2018) – A Deeply Oversold Market No Longer Expects Rate Hikes in 2019

AT40 = 10.9% of stocks are trading above their respective 40-day moving averages (DMAs) (oversold day #2)AT200 = 15.8% of stocks are trading above their respective 200DMAs (new 34-month low)VIX = 24.5Short-term Trading Call: bullish (caveats below!) CommentaryThe week started as I expected based on the technical setup on Friday that I discussed in the … Read more

Bitcoin’s Latest Price Plunge Finally Wakes Up (Search) Interest

Nothing like a good sell-off to kindle interest. Until November 14th, Bitcoin (BTC-USD) held a floor between 5750 and 6000 for the entire year, whether on an intraday or “closing” basis. After that threshold broke down, sellers overwhelmed buyers to the tune of new 52-week lows. The cryptocurrency now sits at a 13+ month low, … Read more

Bitcoin Has Become As Boring As the Beyoncé Baseline

GDPR, the European Union’s General Data Protection Regulation, rolls into effect starting May 25th. Expectedly, there is a flurry of media attention on this topic. One meme spreading quickly compares Google Trend searches for GDPR to pop music icon and diva Beyoncé. It turns out that GDPR is now so popular that it surpassed Beyoncé … Read more