These changed my trading for the better!
How can one determine when a correction is likely to occur? We need more technical facts to build a case. Candlestick reversal patterns are another aspect we can use. When reversals occur, typically there is a telling formation with the candlesticks that acts as confirmation.
By painstakingly hand coding a list of these candlestick reversal patterns, I’ve added a secondary confirmation when we see encroachment on a Bollinger band combined with a candlestick pattern.
This can be used to predict corrections, or portend momentary dips in a trending market to add to enter a position or add to one.
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This index is a weighted average of the top 5 altcoins by market capitalization.
Since this changes often, the index is updated weekly. You can think of it as the S&P 500, but for altcoins.
Itʼs extremely useful to get & feel for the flow of funds between bitcoin and the other altcoins.
With the Kovach Crypto Spread, we can visualize the returns on Bitcoin vs the top altcoins by market capitalization. Since the market capitalization changes frequently, this indicator is updated weekly.
If the indicator is in positive, bitcoin is providing better returns than the altcoins.
If the indicator is negative, the converse is true.
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