They say a week can be a lifetime in politics, but I think the same can be said about the crypto market after Bitcoin finally set a new all-time high and exploded into a higher price range.
In last weeks newsletter I mentioned that our flagship indicator Biyond Vanguard was also set to turn blue on the weekly time frame.
However, a sudden flurry of Sunday buying activity happened, and Vanguard printed a Green weekly candle, suggesting that another week of upside was highly probable.
Source: Tradingview.com
Following the third weekly (Green) buy signal in a row for Vanguard, Bitcoin is now on course to post an enormous weekly gain.
This is exactly why Biyond Vanguard weekly buy signals are amongst the best trending signals out there.
When these weekly Vanguard Green candles occur they tend to trigger multi-week moves higher, and you absolutely don't want to trade against these signals.
Source: Tradingview.com
It goes without saying that our Vanguard 2.0 indicator on Tradingview, which front runs the Vanguard 1.0 indicator, is going to close with a Green candle this week.
Historical data for Vanguard weekly signals show us that 3 weekly candles in a row is the norm, and sometimes even 4 candles in a row before consolidation or a pullback happens.
Source: Biyond.co
So that gives us a reasonable indication that we could see one more week of further upside in Bitcoin or maybe some consolidation before the next big move starts.
Source: Biyond.co
What I find very encouraging is that our other flagship indicator Biyond Atlas has just started to turn lower after strangely moving higher recently.
Biyond Atlas never moved above 100.00 level during the entire run-up, suggesting that it may have just been resetting itself before a massive Bitcoin pump is incoming.
Even more encouraging is that Atlas has tremendous scope to run before it gets into the Green zone.
Source: Biyond.co
This strongly points to the fact that Bitcoin is nowhere near overbought yet, and indeed bulls could just be warming up.
Watch out for the ultimate power combo in the coming days and weeks, which is both Vanguard weekly and Biyond Atlas being Green or in the Green Zone.
