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The “Father Of Trend Following” And The Indicator That Says Bitcoin Is Still Bullish
Iraha 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.
nu 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.
Cryptocurrency anu munggaran naék langkung ti 1,500% sareng ngahontal langkung ti $ 1 triliun cap pasar. Koréksi éta ngaleungitkeun langkung ti 60% tina éta, sareng ngantepkeun pasar cukup reeling pikeun naroskeun upami siklusna parantos réngsé.
Related Reading | What Bear Market? Bulls Now “In Control” Over Every Bitcoin Jangka waktos
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.”
Alat sorangan dipaké pikeun mantuan ngaidentipikasi tren. Hiji asset mimiti trending sanggeus ngaliwatan median nu tindakan minangka garis konflik antara biruang jeung bulls. Ékspansi énergi bullish atanapi bearish teras nyababkeun pita saluran ngalegaan.
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Median pangalusna dihartikeun salaku "hartosna" nu aset balik deui sanggeus periode trending. A pertahanan suksés median, ilaharna ngakibatkeun gelombang sejen ka trend primér. Upami éta tren naék, sapertos kumaha Bitcoin harga ayeuna némbongkeun, teras saluran luhur kudu téoritis dilegakeun sakumaha harga naek luhur.
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) 18 Agustus 2021
Tuturkeun @TonySpilotroBTC dina Twitter atanapi via Telegram TonyTradesBTC. Eusi mangrupikeun pendidikan sareng henteu kedah dianggap naséhat investasi.
Gambar anu dipidangkeun tina iStockPhoto, Bagan ti TradingView.comsumber aslina: NewsBTC