A few days ago we noticed that Bitcoin is near the bottom pattern at 8550 USD (we use artificial intelligence algorithms to automatically detect technical patterns for the cryptocurrency market), see our tweet and picture below.
$BTC is another #crypto near bottom support. #bitcoin support at around 8550 USD. see also our resistance bands obtained with deep learning. quite strong support around 8600 USD. get automated detection of chart patterns with artificial intelligence at https://t.co/7qZ4X0cz6s pic.twitter.com/GDB6hClrHV
— Bittsanalytics (@bittsanalytics) March 11, 2018
We also use a deep learning algorithm to generate possible price resistance bands, we call them BittsBands and we also added it to our tweet for Bitcoin, noting that the resistance band is stronger around 8600 USD.
As it later turned out, those values of 8550 USD and 8600 USD are indeed the levels around where the Bitcoin subsequently rebounded to now the price of 9650 USD for a nice return of 10% in around a day. In addition to advanced technical analysis just presented, our platform also provides its users with other powerful data and analytical tools. See e.g. the following post of how sentiment determined with machine learning was sending warning signals before the latest downturn of Bitcoin price:
If you want to use data like this as an additional source of information to improve your cryptocurrency trading, you can start using BittsAnalytics platform by becoming our user: https://www.bittsanalytics.com/subscribe.php