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52 Week Price Analysis for Bitcoin

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Having run the numbers with my trading algorithm I have developed with the IG Index API, I thought that I might offer some insight. As always this is my own thoughts, ideas and opinions. It might help some of the newer investors. 

Let me explain this graph. Whilst I believe I hold some authority around various parts of the internet with regards to this as I have invested alot of time and effort into this system most of the code is released for free, let me attempt to explain. This graph is produced from my own code/trading algo which I am happy to discuss if you so wish. I can do analysis on other stocks, pairs whatever if there is demand for it. 

  • The blue dashed line's are the high and low prices for each week, In this case over the last 52 weeks. The green dots are the "Peak Detection Algorithm", As you can see from the graph it is good at predicting when the price will turn around. Each dot representing a turn around in price. 
  • The grey area is the VWAP, The Volume Weighted Average Price. 
  • The red dashed line is what the price is currently sat at (mid price), As you can also see it is sitting right on a green dot, This is a signal to say that the price is about to turn around. BUT beware. There are ALOT more peaks beneath the VWAP price (Count them) which indicates there is some serious downward pressure there, It's failed to get off the ground. Not many buyers!.
  • I have various rules attached to how this would be traded   So my analysis for the next week is such that there will be a quite a down-tick in price (see the last green dot, It's just started), With significant price pressure downwards. Not to mention 4000 been a "Psychological Price barrier" 

My time is limited but if you wish I can produce graphs based on lower-time frames, Hour's etc to show the turn around points to plan your trades accordingly. 

 

 

Figure_1.png

Edited by TheGuru12
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Thanks for this @TheGuru12, very interesting and clearly a lot of work has gone into it so thanks for the share. I suspect many here would be very interested in something as you suggest on a lower time frame (hourly for example) that they could follow especially as bitcoin is very problematic to read short term.

Did just note before checking the forum that bitcoin popped to the upside just in this last hour but who knows how long that will last with social media organised pump and dumps .

 

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32 minutes ago, Caseynotes said:

Thanks for this @TheGuru12, very interesting and clearly a lot of work has gone into it so thanks for the share. I suspect many here would be very interested in something as you suggest on a lower time frame (hourly for example) that they could follow especially as bitcoin is very problematic to read short term.

Did just note before checking the forum that bitcoin popped to the upside just in this last hour but who knows how long that will last with social media organised pump and dumps .

 

4H over 15M ... It's trading very tightly, Albeit it downward trend. 

Figure_2.png

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@TheGuru12,

Bitcoin has hit $4098.70 today. That was the high and the low was $3740.50. Thank you for the offer but I would suggest you make plenty of money yourself from your own coding and system. 

Please explain what 'authority' you have around some parts of the internet? I do not understand specifically what you mean by this.

Why don't you share some live trades with the IG Community so we can all see how good/bad this coding and system of yours is? I think that would be more useful. Actually share live open trades with the IG Community using your own coding and system. 

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Guest phil

very interesting thank you

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Aye, Can do that. To be fair I mainly do stocks. I run a Discord group and Reddit thread to discuss trading/coding with the IG Index API. 

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@TheGuru12,

If you mainly do stocks then why post this on a thread created titled '52 Week Price Analysis for Bitcoin'? That is a 'red flag' for me. Post it and make it clear that you mainly do stocks and you don't need to include or mention Bitcoin. 

Make it clear that what you are offering if free unless I have misunderstood. That is 'red flag' No.2 for me. Why 

Not demonstrating or evidencing the performance of your coding / system is 'red flag' No.3 for me.

Suggesting that running a discord group and Reddit thread to discuss trading/coding with the IG Index API gives you authority around some parts of the internet is 'red flag' No.4 for me. That is like suggesting that I have some form of internet authority for my threads and posts as TrendFollower on IG Community. Far from it. My contribution on IG Community is 'miniscule' if non existent when it comes to internet presence. 

I wish you all the best and look forward to seeing your live trades on stocks or what ever assets you feel comfortable with and see how it performs. The live performance will clearly demonstrate the effectiveness of your coding/trading using such a system. 

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Not sure why you are trying to sabotage this thread @TrendFollower, it is titled 'bitcoin' because it is about bitcoin, what is offered is a sharing of experimental algorithmic analysis of bitcoin price action and many will be interested to see how it goes.

Why on earth you are waving red flags about is a complete mystery, no one is trying to sell you anything.  

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1 hour ago, Caseynotes said:

Not sure why you are trying to sabotage this thread @TrendFollower, it is titled 'bitcoin' because it is about bitcoin, what is offered is a sharing of experimental algorithmic analysis of bitcoin price action and many will be interested to see how it goes.

Why on earth you are waving red flags about is a complete mystery, no one is trying to sell you anything.  

Agree.

however @TheGuru12 - it would be really interesting to see some calls going forwards in real time. Unsure if you have alerts set up (or have the time to post here continually) but would be interesting to see your system call a top / bottom in real time and follow the bitcoin trade. 'Peak detection Algo' sounds cool as well!

thank y ou for sharing

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@Caseynotes, there you go again making assumptions. I am not trying to sabotage anything. I am merely offering a different view /  interpretation. It just so happens that it differs from your though I accept my view could be incorrect. 

Apologies but how do you know it is experimental? I may have missed this.

I too will be interested to see how this goes

as I clearly state in my post hence why I am involved in this thread and posting. Robust challenging may bring the best out of @TheGuru12. We all may benefit as a result. 

There is an offering of a service to produce charts which though is not a sale as there is no financial transaction it could lead to new or inexperienced traders making trades that they possibly otherwise may not have made either successfully or unsuccessfully so there could  be a consequence as a result. 

I too am interested to see what comes of this going forwards but @Caseynotes it is ok to have different views and it is ok for me to be wrong. Embrace the different views, challenges and critiques. Offer real value and real live trades and let us all learn together and  help each other. I find some of your posts very interesting and helpful at times. I would love to follow your live trades and see how you trade and make decisons. 

 

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Oh I see, I thought it was just being rubbished for the sake of it. It might be worth reading the OP again because the green dots are the calls. The green dots on the upper line are sell calls while the green dots on the lower line are buy calls. It was somewhat unfortunate that after days of sideways movement in the very hour of posting and the graph showing a short call on the weekly time frame bitcoin price suddenly pumped up, which was why I suggested adding the shorter time frame. The shorter time frame graph posted last night was rushed and not so clear but it actually looks quite good when compared to today's chart. Very interesting. 

image.thumb.png.1fb532c98592e81d428be2e003d7d23e.png

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I am no stranger to criticism online but alas I do not let it deter me, I have some loyal followers and some interesting cool people behind me. I put out what I think. People are free to ignore it. People get pissy when there is money at steak.

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