Hello, Riders! Welcome to the latest edition of our newsletter.
We've observed a distinct trend in the charts over recent weeks - NASDAQ on an upward trajectory and crypto dipping to test support.
My theory posits that once NASDAQ cools down on top of support, funds may start funneling back into higher-risk assets such as crypto. The past weeks have witnessed a notable uptick in the value of stalwart companies like Amazon, Microsoft, Nvidia, AMD, Google, among others, that were previously available at a discount. It's only natural that major investors would prefer to place their money in these obvious movements rather than riskier ventures as the economy recovers.
That's the theory. Now, turning our attention to our indicators, let's examine the facts on Bitcoin's weekly chart:
We had clear bearish signals on our oscillator 4 weeks ago.
The price went down and right now is testing Rider Band and Divider Band.
The price could dip as low as 22-23K while still maintaining an overall bullish structure.
No green circle on oscillator yet (probable 1-3 weeks until we get one).
About our Indicators:
Hello Riders, this week we're excited to roll out our new indicator, "Moving Averages 2.0". I personally find it to be an immensely powerful tool for visual trend detection. But we're not stopping there – we have plans to progressively enhance it with additional layers, signals, and alerts.
Conclusion: That's why, depending on each person's risk profile, there are a few strategies to consider:
DCA (Dollar Cost Average) between 26K and 22K.
Wait for a green circle and/or if the price continues to decline, wait for a 'B' green on our oscillator.
Bitcoin is clearly testing support, and it could easily start rebounding from its current level. However, since we don't yet have bounce signals, trying to anticipate the movement would be more risky.
Once we get these bullish signals, we can go ahead and identify altcoins that are lagging behind Bitcoin and Ethereum (of which there are many at the moment).
Remember, timing is crucial in trading, and understanding the signals can drastically improve your decision-making.
Stay patient, vigilant, and as always, trade responsibly!
A. Bitcoin 1W chart
B. Bitcoin 1W Stochastic RSI: Based on this we could time a potential Bitcoin bullish cross in 2-5 weeks.
Trend Rider and Rider Algo are not registered as financial advisors. This site & the products & services Trend Riders offers are for educational purposes only and should not be construed as financial advice. You must be aware of the risks and be willing to bear any level of risk to invest in financial markets. Past performance is not necessarily indicative of future results. Trend Riders and all individuals associated assume no responsibility for your trading results or investments.