Value of Santiment Data - Average Age Consumed Peaks as Indicator

in actnearn •  5 months ago 

This chart is for BTC from Santiment database.

I think I would like to interpret it as like - if there is large peak then there could be good immediate upward move. And if there is downward move even after these peaks then that would be of lesser magnitude and short lived and will be followed by upward move. There could be few days of delay before price reacts to these peaks. So maybe we can club these observations with trend indicators e.g. SMA (simple moving average) to decide entry point and put a stop loss at the nearest bottom to control the risk of the trade.

We got latest peak on 6th sep. Lets see if this also proves right??

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