BITCOIN PMO
If I look at the PMO indicator on the 5w chart, in the previous two, the green signal identified the end of the bull market. Let's be honest, today's third PMO green signal brought a decline again.
5w candle openings and closings 02 Sep-07 Oct, 07 Oct-11 Nov
If the PMO is not red on October 7th, then this signal is confirmed on November 11th. BTC in the previous two red signals brought -30% both times (yellow box).
Price Momentum Oscillator (PMO) is a technical analysis tool that measures the momentum of a BTC price movements over a specific period.
5w candle openings and closings 02 Sep-07 Oct, 07 Oct-11 Nov
If the PMO is not red on October 7th, then this signal is confirmed on November 11th. BTC in the previous two red signals brought -30% both times (yellow box).
Price Momentum Oscillator (PMO) is a technical analysis tool that measures the momentum of a BTC price movements over a specific period.
Note
Note
The 5w pmo assumption is also suitable for the month chart. which means that the dates of price movements are not set in stone and are variable.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.