![]() ![]() Hence, we are using lines to display the latest moving average levels in front of the last candle. (This is because plotting cannot be done in the loop). Note that since we are using variable levels - we will not be able to plot all the levels of moving average. Requirement for building such algorithm was initially raised by I was able to develop them in minimal code with the help of some of the existing libraries built on arrays and matrix, I also thought why not extend this to find something interesting. This is achieved through " recursive moving average " algorithm. In this script, user can select how many levels of moving averages need to be calculated. ![]() Level n SMA = SMA(Level (n-1) SMA, length) ![]() Multi level moving average here refers to applying moving average on top of base moving average on multiple levels. In this discussion, we will also check how to handle different scenarios. These points can mean long term downtrend or can also cause a small pullback before trend continuation. In this algorithm, we try to find the extreme trend by looking at fully aligned multi-level moving averages and only look at moving average crossover when market is in the extreme trend - either bullish or bearish. However, this method can give lots of false signals during the ranging markets. Price is currently consolidating between 20,000$ and 20,400$, which is another good sign at the bottom phase for a trend reversal.Īccording to the current structure of BTC, if it breaks the trend line resistance, the price of BTC may rise to 24.7K$.Ĩ 1 0 8 Extreme Trend Reversal Points Using moving average crossover for identifying the change in trend is very common. If the pattern continues, the price of Bitcoin ( BTCUSDT ) might reach the support levels of $24700, If the trend reverses, then the price of Bitcoin ( BTCUSDT ) may rise to $17700īTC has recently seen an increase in volume in the trend, which may indicate that the bottom has been reached. If the price action breaches the lower support level, the bearish trend would be sustained.Ĭurrently, Bitcoin ( BTCUSDT ) is in the range of $ 20250. It is formed by the upper trend line that connects the highs and a horizontal trend line connecting lows converges to form a triangle. This pattern is often regarded as a characteristic of a bearish trend. The above chart of Bitcoin ( BTCUSDT ) laid out the descending triangle pattern. ![]() 1 1 5 4 Is Bitcoin ready for a 24K$ Pump? Is Bitcoin ready for a 24K$ Pump? ![]()
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