The crypto market had a highly volatile trading week as easily predicted with the Tariff news and Chair Powell's speech, however, I think what unfolded caught many people by surprise.
Sure, Bitcoin sold-off after testing towards the $88,000 area, but as things stand it looks like BTC is going to print a positive weekly close in the face of the tariff news.
Source: Coindesk.com
This is a stark contrast to what happened to equity markets, and indeed more intune for with the move is the preferred asset class right now, Gold.
My main call for this year has been a bull market correction and then a likely 100 percent gain from wherever the yearly low is established.
Source: Tradingview.com
With the current price action and Bitcoin's ability to withstand the risk-off onslaught, I would not be surprised to see a recovery towards $97,000 is the coming days and weeks.
Failure to forge a new low week would be strong technical evidence for me, but more so, it would be fantastic if our indicators also agreed.
Source: Biyond.co
For some time now our flagship indicators Biyond Vanguard and Biyond Atlas have been strictly bearish.
This has been particularly helpful to us as knowing when not to buy is equally as important as knowing when to buy.
Currently, we don't have any major buy signal from our indicators, but the lower time frames are clearly getting Less Bearish.
Source: Biyond.co
Biyond Atlas is moving lower, which means that bear pressure is decreasing. I must stress we only get a strong Buy signal for Atlas once we cross under the 100 mark and into Green Zone.
The Goldilocks scenario for us is to have Biyond Vanguard (particularly on the weekly time frame) and Biyond Atlas complimenting each other.
Source:Biyond.co
Source:Biyond.co
That combo generated huge gains for us after the U.S. election, and it is indeed the confirmation we seek to go "All In" for our institutional clients.
As things stand 3-day Vanguard has been the star performing time frame for picking up false upmove's this year.
Source: Biyond.co
Every recovery has been shadowed in Orange, meaning that it lacks on-chain confirmation and is likely manipulation rather than something meaningful.
Going forward into the coming weeks, should we start to see upward price movement accompanied by Blue and Green on the 3-day Vanguard it would be a great sign that Bitcoin is done with the downside.
And finally, incase you are wondering, I doubt we will get a weekly Bitcoin buy signal on Vanguard until we see the $102,00 level crossed with conviction.
Tracking the moves of Vanguard 2.0 on Tradingview will give us an exact heads up in advance when that change comes.
