Technical patterns and Bittsbands of great help in trading recent rally of Bitcoin

Both technical patterns and our proprietary BittsBand indicated a resistance level at around 7700 USD and much clearer path above this price level. See our tweets:

As we said in the tweet there was a higher chance of seeing a rapid rise once the 7700 USD level is broken. The optimal way of trading this would be to set up e.g. limit buy orders at 7750 USD. And what we conjectured has today indeed happened. Once the 7750 USD was broken the price rapidly rose for a return of +7% in less than a day.

You can get analytics like this and much more data and analytical tools by subscribing at https://www.bittsanalytics.com/subscribe.php

Double top pattern recognition worked greatly for the second time in a row flashing warning for Bitcoin at 9800 USD

BittsAnalytics provides its users with a wide array of Big Data and advanced analytical tools to produce market timing and trading signals. Trading signals from BittsAnalytics can be based on:

  • sentiment analytics of social media posts (we use machine learning for sentiment classification)
  • social media mentions analytics
  • price resistance bands, BittsBands, obtained with deep learning
  • technical analysis of chart patterns (we have automated detection of chart patterns with sophisticated machine learning algorithms)

In this blog post we would like to show how even technical analysis works surprisingly well in identifying turning points. See the chart of double and triple top patterns for Bitcoin (the chart was automatically generated by our AI which does it every day for all cryptocurrencies):

As you can note there were two cases where the Bitcoin established a top pattern and then fell on that top line. First the pattern was established by points 1 and 2 at around 11900 USD. Bitcoin then fell after reaching the level for the third time (point 3). More recently the next top pattern was established with points 4 and 5. And after reaching this level of around 9900 USD (point 6) the Bitcoin again fell and has been down almost 30% since that price.

Top and bottom patterns can thus be a very useful tool for assessing the potential of cryptocurrencies for rise or fall in price. We automatically generate chart patterns like this every day with our AI algorithms and make them available at our platform. You can subscribe at our platform here: https://www.bittsanalytics.com/subscribe.php

 

Our Sentiment Market Indicator was flashing warning at 9800 USD – correct for the fifth time in a row

Market Sentiment Indicator is an indicator that we use to assess the sentiment of overall cryptocurrency market and is part of our framework of warning signals (* see detailed definition of indicator below). The latest warning signal from indicator came on 5th May with Bitcoin as a reference for the whole crypto market at around 9820 USD. The signal turned out to be again correct, crypto markets went in correction with Bitcoin reaching 7150 USD for a loss of almost 30%.  This is the fifth consecutive time our warning signal has been correct, i.e., it was followed by loss of at least ten percent. See the picture below and statistics for previous warnings (updated):

We believe that making profits in cryptocurrencies markets is becoming harder and the winners will be those with better data and better analytical tools. That is what we provide our users with our BittsAnalytics platform and if you want to start using our market sentiment indicator and many other data and tools you can find more information about becoming our user at www.bittsanalytics.com.

* Market Sentiment Indicator or MSI is based on sentiment of individual cryptocurrencies, with sentiment determined with machine learning from tweets mentioning the particular cryptocurrency. It is defined as the percentage of 10 largest cryptocurrencies whose sentiment was positive on a given day. For comparison chart is plotted with Bitcoin open price as a reference for general market.

You can read about our some of our past warnings from market sentiment indicator in our previous blog posts:

Our warning Sentiment Market Indicator was now correct for the fourth time in a row

 

48% return on Golem in one day with using our BittsBands

We are using proprietary deep learning on vast sets of different data to assess where could be possible price bands of resistance for cryptocurrencies. For many excellent past cases of achieving high returns with BittsBands see our blog posts at http://www.bittsanalytics.com/blog/category/bittsbands/

Golem on 2nd May entered price region where it had almost no resistance BittsBands just above 0.6 USD:

In this situation a rally through 0.6 USD to much higher values would have a higher probability. This is indeed what has happened in the last day with the price now reaching 0.91 USD for a return of 48% in just a day.

If you want to include deep learned Bittsbands data in your cryptocurrency analysis you can find it at our BittsAnalytics platform: www.bittsanalytics.com. Platform also has a lot of other advanced data such as social media analytics and  chart patterns automatically detected with AI as well as sophisticated analytical tools. These have also proven excellent generators of trading signals, read more about them here: http://www.bittsanalytics.com/blog/category/bittssignals/

 

 

50% return on Aelf with using our proprietary BittsBands

We are using proprietary deep learning on vast sets of different data to assess where could be possible price bands of resistance for cryptocurrencies. For many excellent past cases of achieving high returns with BittsBands see our blog posts at http://www.bittsanalytics.com/blog/category/bittsbands/

Several days ago we wrote about how one could use BittsBands to make great return on Aelf when the price was around 1.2 USD:

What we also noted at the time was the relatively weak resistance bands above 1.2 USD up to 1.9 USD, see chart from that tweet:

In this situation a rally through 1.2 USD and much higher would have a higher probability. This is indeed what has happened in the last week with the price now reaching 1.8 USD for a return of 50% in less than a week.

If you want to include deep learned Bittsbands data in your cryptocurrency analysis you can find it at our BittsAnalytics platform: www.bittsanalytics.com. Platform also has a lot of other advanced data such as social media analytics and  chart patterns automatically detected with AI as well as sophisticated analytical tools. These have also proven excellent generators of trading signals, read more about them here: http://www.bittsanalytics.com/blog/category/bittssignals/

 

 

77% return on EOS by using our proprietary BittsBands

We are using proprietary deep learning on vast sets of different data to assess where could be possible price bands of resistance for cryptocurrencies. For many excellent past cases of achieving high returns with BittsBands see our blog posts at http://www.bittsanalytics.com/blog/category/bittsbands/

Several days ago we wrote about how one could use BittsBands to make great return on EOS when the price was around 12 USD:

What we also noted at the time was the relatively weak resistance bands above 12 USD, see chart from that tweet:

In this situation a rally through 12 USD and much higher would seem much more easier. This is indeed what has happened in the last days with the price now reaching 21.25 USD for a return of 77% in less than a week.

If you want to include these deep learned data in your cryptocurrency analysis you can find it at our BittsAnalytics platform: www.bittsanalytics.com. Platform also has a lot of other advanced data such as social media analytics and  chart patterns automatically detected with AI as well as sophisticated analytical tools. These have also proven excellent generators of trading signals, read more about them here: http://www.bittsanalytics.com/blog/category/bittssignals/

 

 

138% return on Aeternity in less than a week by using our proprietary BittsBands

We are using proprietary deep learning on vast sets of different data to assess where could be possible price bands of resistance for cryptocurrencies. For many excellent past cases of achieving high returns with BittsBands see our blog posts at http://www.bittsanalytics.com/blog/category/bittsbands/

Several days ago we wrote about how one could use BittsBands to make great return on Aeternity when the price was around 2.1 USD:

What we also noted at the time was the relatively weak resistance bands above 2.1 USD, see chart from that tweet:

In this situation a rally through 3 USD and much higher would seem much more easier. This is indeed what has happened in the last days with the price now reaching 5 USD for a return of 138% in less than a week.

If you want to include these deep learned data in your cryptocurrency analysis you can find it at our BittsAnalytics platform: www.bittsanalytics.com.. Platform also has a lot of other advanced data such as social media analytics and  chart patterns automatically detected with AI as well as sophisticated analytical tools. These have also proven excellent generators of trading signals, read more about them here: http://www.bittsanalytics.com/blog/category/bittssignals/

 

 

EOS up 25% in a day after encountering weak BittsBands

We are using deep learning on vast sets of different data to assess where could be possible price bands of resistance for cryptocurrencies. For more detailed explanation of BittsBands please see e.g. our blog post:

Our deep learned BittsBands have proven excellent for trading in recent Bitcoin price developments

 

In this blog post we discuss EOS BittsBands. As you can see in the BittsBands chart below EOS was approaching prices ranges with very weak BittsBands above 12 USD. That means a high probability of rapid rise of EOS and this is indeed what happened next with the price now over 15 USD for a quick 25% return in around a day.

 

If you want to include these deep learned analysis in your cryptocurrency trading you can find it at our BittsAnalytics platform: www.bittsanalytics.com.. Platform also has a lot of other advanced data such as social media analytics and  chart patterns automatically detected with AI as well as sophisticated analytical tools.

Aeternity up 20% on encountering weak BittsBands

We are using deep learning on vast sets of different data to assess where could be possible price bands of resistance for cryptocurrencies. Let us explain how users of our platform can use our BittsBands for better anticipating possible price paths. We will use Aeternity price movements in the last days as an example.

The more red the particular band is (see picture below) , the higher is the probability that:

1. the price will consolidate within the band or rebound from it when falling towards the band from above (see e.g. point 3 below)

2. or that it will be “repelled” by the band downwards when approaching the band from below or consolidate within the band afterwards (see point 2).

If the band is particularly weak, i.e. almost white, then there is a higher probability of price rapidly moving through such price band. This has indeed happened in the last few days (see point 4 in the chart). There were very weak bands above 2.1 USD and the price then quickly rallied for a return of more than 20%. Of course not every price movement will follow this pattern as often there are other drivers, e.g.. fundamental ones but even in those cases we often see effects as described above. We regard BittsBands as one the best analytical tools on our platform.

If you want to include these deep learned data in your cryptocurrency analysis you can find it at our BittsAnalytics platform: www.bittsanalytics.com.. Platform also has a lot of other advanced data such as social media analytics and  chart patterns automatically detected with AI as well as sophisticated analytical tools.

Storm up 20% after mentions and sentiment surge on 20th April and positive BittsBands picture

We track millions of social media posts and use machine learning to determine sentiment for cryptocurrencies. We can become interested in a cryptocurrency for many different reasons based on our data, three such examples are:

  • cryptocurrency had a large jump in tweets mentions
  • it had a large jump in sentiment as determined with machine learning from tweets about it
  • it had a large increase in both sentiment and tweets mentions number

One of the latest examples for third kind of signal was Storm. It had a surge in sentiment on 20th April, see chart below. The price was around 0.047 USD at the time.

Another important factor was also that the BittsBands were weaker from 0.04 USD up so one could expect a fast move up (for explanation of BittsBands see our blog post: http://www.bittsanalytics.com/blog/2018/04/19/our-deep-learned-bittsbands-has-proven-excellent-for-trading-in-recent-bitcoin-price-developments).

This is has indeed what happened as we got a rally from 0.047 USD to 0.058 USD for a return of 20% in a couple of days.

If you want to use social media analytics and other data like this as an additional source of information to improve your cryptocurrency trading, you can get it at our platform www.bittsanalytics.com.