I have been identifying trends using my newly coded indicator, "Time Series Long vs Short Volume (TSLSV) beta."
The first three vertical lines are located at the lowest point of previous market dips. The location of the last vertical line is what I am observing. It does have a correlation to the last three previous dips in that the short volume is higher than the long, AND both are increasing at the same time. This is not an occurrence that can be observed at any other point in time which indicates that it has uniquely identified the bottom of bitcoin dips in the past.
Because of the absolute dominance that bitcoin has in the cryptocurrency market, it is likely that a bottom in bitcoin would translate to the bottom for other crypto coins.
Ok, obvious problem with your analysis here. You're looking at the wrong timescale. You need a bigger data set because you're literally only looking at the most recent rally whereas we have historical data for Bitcoin trading going back to at least 2011.
That being said, considering how thinly even Bitcoin is still traded in highly localized markets and the absolute proof of market manipulation in Mt. Gox by only two algo bots that drove price up from $250 to $1000 in 2013, it would be highly questionable to form a solid understanding of market dynamics solely based on charting. Just like if we consider systemic problems in banking and other systems that have been crippled by dubious behavior, you need to be cautious here. Crypto has a real, well documented problem with price manipulation and this could be extremely problematic for every participant in the market.
I would get better data and redo your analysis otherwise you're definitely likely to be serving yourself up some confirmation bias here.
unitednoobies
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I personally believes that we are in one of the worlds greatest bear trap in the history of bear traps...
zigger
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so as far from your chart visible we have already bottomed ? we wont see 5k ?
GrantPeace
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@zigger, That is the hypothesis that has yet to be tested.
MutexLock1
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:rocket:
MariyaS
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Thank you! Do you have some update?
WarDaddy
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Is there a way to try out this indicator?
GrantPeace
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@WarDaddy, Yes, I will publish it and make it available soon.
That being said, considering how thinly even Bitcoin is still traded in highly localized markets and the absolute proof of market manipulation in Mt. Gox by only two algo bots that drove price up from $250 to $1000 in 2013, it would be highly questionable to form a solid understanding of market dynamics solely based on charting. Just like if we consider systemic problems in banking and other systems that have been crippled by dubious behavior, you need to be cautious here. Crypto has a real, well documented problem with price manipulation and this could be extremely problematic for every participant in the market.
I would get better data and redo your analysis otherwise you're definitely likely to be serving yourself up some confirmation bias here.