Bitcoin Momentum Update #5: Holding Above Neutral for BITSTAMP:BTCUSD by SatsOra
Bitcoin Daily Time Series Momentum is currently around 1. 01 and continues to hold slightly above the neutral level of 1. 0. This follows a significant recovery from the lower reference zone near 0. 8. More importantly, momentum has now spent several days around the neutral level without a significant reversal lower. What has changed? The recovery that began in June has developed into a clear sequence of improving momentum. The indicator has moved from approximately 0. 8 back above 1. 0. For …
Bitcoin Daily Time Series Momentum is currently around1. 01and continues to hold slightly above the neutral level of1. 0. This follows a significant recovery from the lower reference zone near0. 8. More importantly, momentum has now spent several days around the neutral level without a significant reversal lower. What has changed?The recovery that began in June has developed into a clear sequence of improving momentum. The indicator has moved from approximately 0. 8 back above 1. 0. For now, short-term daily momentum is slightly stronger than its longer-term baseline. What I'm watchingHolding above 1. 0:Would keep the current constructive momentum picture intact. Further acceleration:A continued rise would indicate that positive momentum is gaining strength. A sustained move back below 1. 0:Would weaken the current momentum picture. 1. 2:Remains the upper reference zone associated with unusually strong daily momentum. Current viewMomentum remains constructive, but it is not yet unusually strong. The key development to watch is whether Bitcoin Daily Time Series Momentum can build further above 1. 0 rather than continuing to oscillate around the neutral level. This analysis is based on my Bitcoin Daily Time Series Momentum indicator and is provided for educational purposes only. It does not constitute financial or investment advice. Centered OscillatorsEconomic CyclesOscillatorsRelated publicationsDisclaimerThe information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in theTerms of Use. DisclaimerThe information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in theTerms of Use.