A new CoinDesk tool called the Bitcoin Trend Indicator can help traders spot where $BTC is headed. GWilliamsJr_CMT talks about it in this week’s “Crypto Long & Short.”
As a practitioner of technical analysis, I view visual identification as a tried-and-true method of identifying trends. You pull up a chart, observe the extent to which prices are moving and apply trend lines to provide a graphical outline of those trends. They can effectively be used to identify and project the direction of an asset’s price movement, with breaks below or extensions above being instances worth noting.
Similar patterns appear for ether , given its 53% recent uptrend and trendline breaks occurring on the same dates. Historical price data can be used to identify seasonality and trends as well. Past pricing data can be separated into buckets related to time, and used to identify patterns. Investors can also narrow the time period of evaluation to a more recent time frame to evaluate the extent to which performance may have shifted.
A missed signal can be seen in late March 2022, when the BTI signaled an uptrend before a 59% drop through June. It’s also worth noting, however, that while the uptrend was identified on March 28, the BTI identified a neutral signal on April 8 and a downtrend signal on April 10.
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