Moving into the upcoming trading week and our indicators are flagging some important potential changes that could influence the price action quite considerably.
Starting with our Vanguard 2.0 model as this is probably the most notable change, and things look primed for change in terms of the direction of travel for Bitcoin in December.
Source: Biyond.co
Our Vanguard 2.0 model (which front runs the Vanguard 1.0 model on our website by showing real-time price closes) currently suggests the weekly Vanguard will flip to Blue next week.
This basically means that a Blue weekly signal means the price action is just slightly bullish.
This could be interpreted as meaning that there will be no new highs or a ATH incoming next week.
In order to flip to Green for the weekly the Vanguard 2.0 would need a weekly price close above $98,250.
Source: Biyond.co
I would personally say that just looking at previous instances where a Blue from Green change has happened on the Weekly it has been several weeks if not a couple of months before a new Green buy signal has printed again.
While the Vanguard indicator is not infallible, it sure has been right an awful lot about bullish directional breakouts when it flips to Green.
Source: Biyond.co
Another concern for bulls is Biyond Atlas. This Momentum based A.I model is showing the first time in many weeks that momentum is now turning
upwards.
Being an inverse model it means that we could start to see a decent bearish correction over the coming weeks.
Please note that this indicator is also currently generating one of its most overbought readings ever as well.
Moving onto the Long Vs Short ratio for Global Binance accounts and this is hinting that a bounce back in Longs could happen anytime.
Source: Biyond.co
This week we got a taste of what happens when the market or rather Global Binance traders of the retail variety shift to Long.
Meaning, the market does the opposite of what they are doing!
Overall, the changes that we are seeing certainly fit with the theme of a Bitcoin potential correction.
Do watch the weekly price close on Vanguard as it could be a clear sign we are moving down to the $91,000 to $87,000 area.
