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Crypto Chartbook - Bitcoin, Buy The News

Mar. 02, 2022 9:50 PM ETBitcoin USD (BTC-USD)GBTC, GLD, XAUUSD:CUR3 Comments
Florian Grummes profile picture
Florian Grummes


  • Professionals know that news releases can turn the direction of a market. Consequently, these can be entry or exit points.
  • With news, volatility is typically increasing, and a larger volume of transactions is at play.
  • We also got a hedge rotational “buy signal” for bitcoin versus gold on the weekly chart as gold holders might switch to bitcoin for the next foreseeable timeframe.
  • Overall, the goal in mind is to “erase” intuitive responses and an execution time delay leading to sub-par entry timing.

Glowing dark background with bitcoin symbol.

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“Buy the rumor, sell the news” was a term used among traders in the last century. Back then, it was profitable if applied to purchasing stock three weeks before earnings release news. A much more powerful principle is a valuable

This article was written by

Florian Grummes profile picture
Florian Grummes is an independent financial analyst, advisor, consultant, trader & investor as well as an international speaker with more than 25 years of experience in financial markets. Via Midas Touch Consulting he is publishing weekly gold, silver, bitcoin & cryptocurrency analysis for his numerous international readers. Florian is well known for combining technical, fundamental and sentiment analysis into one often accurate conclusion about the markets. www.midastouch-consulting.com

Analyst’s Disclosure: I/we have a beneficial long position in the shares of BTC-USD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (3)

I also use as my baseline chart the weekly candle chart, and I overlay the 5, 10, and 30-week moving averages against it. It’s now showing what I believe technicians call a golden cross, where the 5-week MA is just now crossing above the 10-week MA in an upward direction. Still quite a ways to go before 5-week crosses above the 30-week MA. It’s a bullish signal, I believe.

It’s been developing for the last month or so. Although BTC bottomed about 5 weeks ago, the ‘screaming buy’ point for me was roughly 2 weeks ago when you could see the 5-week MA bottom out and slightly turn upwards. The golden cross now confirms my bullish stance with more conviction vs. the spot price bottom 5 weeks ago, because it was possible then for further drop in price. I did buy a little more back then around $34.5k, but the absolute low point was ~$32k. I feel more confident here buying on any 1-2% point dips. Always dollar cost average!!

Finally, I’m not a technical analyst nor a professional investor by any means but I do find looking at charts helpful to questioning my gut instincts. I have some difficulty following the author’s article above, perhaps it could include some more “plain english” explanations of what he’s trying to state for us in the non-technician crowd.
The big Ruble conversion was Monday right? Right before the currency collapsed. That's the kind of news you can believe in.
17144952 profile picture
Thank you for reminding us you are a professional and therefore know better than us amateurs when is the right time to buy. Most of us are not professionals. That’s why we subscribed to you. A more timely update on your thesis once it changed and you “jumped” would have been nice. Cheers.
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