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The “Father Of Trend Following” And The Indicator That Says Bitcoin Is Still Bullish
Kedy Bitcoin price is in an uptrend or a downtrend, it is usually obvious and undeniable due to just how powerful things can move. For example, the cryptocurrency soared from $3,800 to $65,000 during the most recent impulse.
Although there was a large setback, a trend-identifying indicator created by the “Father of Trend Following” suggests that Bitcoin is as bullish as ever, and after a defense of an important conflict line, the cryptocurrency is ready to blast off higher.
Bitcoin Uptrend That’s Not Yet Ready To EndAfter Black Thursday in 2020, Bitcoin price went on a year-long uptrend that came to a climax this past April around the same time Coinbase Global (COIN) was listed on the Nasdaq.
Vôbec prvá kryptomena sa vyšplhala o viac ako 1,500 1 % a dosiahla trhovú kapitalizáciu viac ako 60 bilión dolárov. Korekcia z neho vymazala viac ako XNUMX % a nechala trh dostatočne namotaný na to, aby spochybnil, či sa cyklus uzavrel.
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Mixed signals are everywhere, with many pointing toward a bear market, with others are saying the integrity of the bull market was never quite broken. Sideways price action following the selloff has made the current trend a lot less clear.
However, zooming out using the Donchian Channels technical indicator on monthly timeframes, the uptrend holding becomes a lot more visible – especially when comparing past market cycle tops.
After defending the median, bulls should make a push higher causing the upper band to rise | Source: BTCUSD on TradingView.com All About The Donchian Channels And How To Use ThemThe Donchian Channels indicator was created by Richard Donchian in the mid-20th century. He was later nicknamed “The Father of Trend Following.”
Samotný nástroj sa používa na identifikáciu trendov. Aktívum začína trendovať po prechode cez medián, ktorý pôsobí ako línia konfliktu medzi medveďmi a býkmi. Expanzia býčej alebo medvedej energie potom spôsobí rozšírenie pásiem kanála.
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Medián je najlepšie definovaný ako „priemer“, do ktorého sa aktíva vrátia po určitom období trendu. Úspešná obrana mediánu zvyčajne vedie k ďalšej vlne primárneho trendu. Ak je tento trend hore, ako čo Bitcoin cena sa v súčasnosti ukazuje, potom by sa horný kanál mal teoreticky rozširovať, keď ceny stúpajú vyššie.
Past bear markets in Bitcoin began when the median was lost, which caused the asset to trend toward the lower channel band instead. And past bull markets each had several pauses in the upper channel before another push higher was made. Could the recent pullback just be the first of many more to come as Bitcoin climbs toward the eventual climax to the current market cycle?
Donchian Channel on the monthly says #Bitcoin still plenty bullish after defense of the median. Donchia-say you weren't warned. pic.twitter.com/LMPwBGR5RP
— Tony "The Bull" Spilotro (@tonyspilotroBTC) August 18, 2021
Sledujte @TonySpilotroBTC na Twitteri alebo prostredníctvom telegramu TonyTradesBTC. Obsah je vzdelávací a nemal by sa považovať za investičné poradenstvo.
Odporúčaný obrázok z iStockPhoto, grafy z TradingView.comOriginálny zdroj: NewsBTC