Cryptocurrency News

A bitcoin indicator with a ‘perfect’ history just told you to buy dips

MicroStrategy Could Be As Smart As “Buying Dips” In BitcoinB T c) as an indicator with a “perfect” history tells traders to buy.

In Tweet On June 15, popular analyst Cole Garner flagged bullish signals for the stablecoin ratio oscillator for bitcoin.

Buy a dip or feel like a whale?

following micro strategy announced plans To raise another $1.5 billion, the proceeds of which can be fully used to buy bitcoin, BTC/USD firm support at $40,000.

The move followed praise from both Elon Musk and investors Paul Tudor Jones, the latter now advocates a 5% BTC position compared to the previous 1%.

Currently, the Bitcoin to Stablecoin Ratio Oscillator is predicting a classic buying opportunity, even at new local highs.

The oscillator measures the amount of bitcoin on exchanges relative to the amount of stablecoins. According to Garner, when the moving average of the ratio enters the lower boundary, which is shown in green on the attached chart, it is time to enter BTC/USD.

Bitcoin to Stable Ratio Oscillator with buy points highlighted. Source: Cole Garner / Twitter

The indicator has not once failed to catch a bullish trend in Bitcoin since 2019.

“A perfect BTFD hit rate since 2019, and it printed another buy signal,” commented Garner.

Ki Young Joo, CEO of on-chain monitoring resource Cryptoquant, which produces the indicator, nevertheless sounded the alarm this week over a potential fresh selloff. This, he said, could come from Bitfinex, where whales have accumulated a significant short position.

“If Dumping Happens Again, It Could Come From Bifinex,” Ki Told Twitter followers.

“Most exchanges have digested most of the $BTC inflows after the fall. Except Bitfinex. All eyes are on the finex whale.

Bitcoin Unextended Volume Index as of June 11. Source: Ki Young Joo/Twitter

Trader’s Eyes “Microstrategy Fractal”

Meanwhile, the microstrategy that provides more funding for bitcoin, in itself, could be positive news enough for the market to boom.

related: Bitcoin Price Could Reach $85K in Months as Indicators Turn Bullish – Report

As noted by Filbfilb, co-founder of trading suite Decentrader, MicroStrategy buy-ins have an unusual timing when it comes to high BTC spot rates.

This, he told clients of his Telegram trading channel on Friday, was more like a “fractal” than a casual relationship.

Earning a significant following on social media, CEO Michael Sayer continues to be outspoken on bitcoin amid fundraising announcements.

“If you invest 5% of your portfolio in bitcoin, you have decided to invest 95% of your portfolio in an asset that will be monetized by bitcoin,” he said. reacted to Tudor Jones.