2020 Outlook for #Bitcoin
Chart
The year 2020 has started and the crypto community has received it with open arms. This year is full of important events for the crypto industry, being the most-awaited and important one the Bitcoin halving taking place in May.
In April 2019, the BTC price finally broke very key resistances and the bulls woke up after a long rest. The year 2019 has supposed the comeback of the cryptocurrency market to double-digit increases.
So far in 2020, the price is still undertaking a consolidation process after the rise from $3,500 to $13,800 and can keep hovering between $6,800 and $8,000 during some weeks more. However, the expectations are very positive for this year and the price could break the maximum made in June 2019 at $13,000 once the supplied is cut by half and the sentiment goes up.
Designing your automated strategy
As mentioned before, the cryptocurrency market is likely to rise over $10,000 again, but for now, it’s trapped in a very notable medium-term downward trend. When it comes to automating your trading strategy, how can you build your automated strategy to avoid losses during the consolidation process and take advantage of potential positive trends?.
Long/medium term moving averages can help you to filter out the noise of a trend and pinpoint the beginning of trends that last months. Medium-term moving averages combined with momentum indicators like DMI can work together very well when it comes to filter out potential fake or negative buy and sell signals.
As we can see in the chart, during the correction phase, many buy signals that could become negative were not opened due to not bot indicators signaled a buy. Only the more secure buys and sells were open during this period.
When it comes to applying this strategy to 50 pairs or more, the volume of signals will be good enough and the quality of the signals, very probably, will be higher.
The year 2020 has started and the crypto community has received it with open arms. This year is full of important events for the crypto industry, being the most-awaited and important one the Bitcoin halving taking place in May.
In April 2019, the BTC price finally broke very key resistances and the bulls woke up after a long rest. The year 2019 has supposed the comeback of the cryptocurrency market to double-digit increases.
So far in 2020, the price is still undertaking a consolidation process after the rise from $3,500 to $13,800 and can keep hovering between $6,800 and $8,000 during some weeks more. However, the expectations are very positive for this year and the price could break the maximum made in June 2019 at $13,000 once the supplied is cut by half and the sentiment goes up.
Designing your automated strategy
As mentioned before, the cryptocurrency market is likely to rise over $10,000 again, but for now, it’s trapped in a very notable medium-term downward trend. When it comes to automating your trading strategy, how can you build your automated strategy to avoid losses during the consolidation process and take advantage of potential positive trends?.
Long/medium term moving averages can help you to filter out the noise of a trend and pinpoint the beginning of trends that last months. Medium-term moving averages combined with momentum indicators like DMI can work together very well when it comes to filter out potential fake or negative buy and sell signals.
As we can see in the chart, during the correction phase, many buy signals that could become negative were not opened due to not bot indicators signaled a buy. Only the more secure buys and sells were open during this period.
When it comes to applying this strategy to 50 pairs or more, the volume of signals will be good enough and the quality of the signals, very probably, will be higher.
The best cryptocurrency automated trading platform.
-Cryptohopper-
cryptohopper.com/
-Cryptohopper-
cryptohopper.com/
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.