30Day HODL Wave is a Reasonable Trend Change Indicator

in actnearn •  14 days ago 

Picture1.png

I wanted to look at HODL waves behaviour to see if current downturn started in July'2019 would continue or halt.

There can be many complex observations and analysis of these hodl waves. I have published an article regarding that - UNDERSTANDING CRYPTO ECONOMIC CYCLES USING BLOCKCHAIN DATA FROM SANTIMENT for detailed use of HODL waves.

However, in this post I wish to make quick observations as listed below:

  1. 30 day hodl wave normally is a good indicator of trend reversal
  2. Continuity of the trend after reversal is supported by higher period waves
  3. Above observations more or less have been consistent.
    If that is true then 30 day hodl wave has started uptrend on 18 October 2019 and lately supported by 60 day and 90 day waves too.

Therefore, it is safe to conclude that downward trend started in Jul'19 has come to an end and from here on upward trend will start barring few trader psychology related swings.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

@prameshtyagi You have received a 100% upvote from @botreporter because this post did not use any bidbots and you have not used bidbots in the last 30 days!

Upvoting this comment will help keep this service running.

Congratulations @prameshtyagi! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You published more than 1700 posts. Your next target is to reach 1800 posts.

You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Vote for @Steemitboard as a witness to get one more award and increased upvotes!
  ·  14 days ago Reveal Comment