What a week it has been for Bitcoin. Just this time last week Bitcoin was in the midst of breaking the 100,000 USD support level as the conflict between Israel and Iran started to see the USA becoming involved.
As the dust settled on crypto an thed geo-politics sorted itself out Bitcoin started to recover, and quite substantially too.
Source: Santiment.net
There is nothing especially unusual about this as many potential risk-off events have turned into buying opportunities for Bitcoin and stocks in the past.
But what is unusual is that our flagship Biyond Vanguard indicator is about to issue a Green Buy signal on the weekly time frame after closing the previous week in Orange.
According to our front Vanguard 2.0 model Bitcoin is going to be a strong buy next week and this is fairly significant for a variety of reasons.
Source: Biyond.co
Vanguard 2.0 tracks the real-time closes, while Vanguard 1.0 on our website only show the changes in colour once the price closes have happened.
So put simply, Vanguard 1.0 will continue to show Orange for the weekly time frame until the weekly price close happens.
So Vanguard 2.0 front runs the close and provides a heads up.
Source: Biyond.co
Backtested data shows that Vanguard weekly Buy signals have an extremely high probability of yielding gains. So the data supports more upside.
This is important because Bitcoin has been choppy at best in the past few days, and sadly lacking the power trend we saw after the U.S. election result last year.
Source: Biyond.co
Looking more in-depth. Vanguard 2.0 also shows that Bitcoin simply skipped the Blue phase and headed straight to Green.
This provides a powerful signal and also suggests that the metrics that make-up Vanguard are seeing something extremely positive in order to move straight to Green.
Source: Tradingview.com
Just to reiterate the last time Vanguard weekly closed in Green Bitcoin posted two consecutive Green weekly candles and added about 10,000 of upside after that close.
Even more encouragingly we are seeing some stabilization in Biyond Atlas and even some minor turning lower on a daily basis.
Source: Biyond.co
Of course, we need to see a move into the Green zone to generate the highest possible Buy conviction trade at Biyond, which is Green Vanguard Weekly and Biyon Atlas in the Green zone.
It could be a very interesting week ahead, as always...all eyes on our top quant models, Vanguard and Atlas.
