Crypto index - bottom is in, recovery taking place.
The current movement in the crypto space looks extremely similar to the July crash and August recovery.
My idea suggest we'll see the same slow grind recovery as August, followed by a sudden boost around end September / start October.
Credit to Adoukas for inspiration.
Breakout in 24 - 36 hours ish.
The indicator uses two variables that can be changed:
"MA_Length" = This is the length of the moving average and is set to 50 by default.
"CryptoFactor" = This is the weighting given to the movement of the Crypto-Index. Essentially, this is the factor as to how much the movement of the Crypto-Index effects the weight of the moving average. If you set this at 0, the line will be a simple moving average of the set length without any affect of the Crypto-Index.
By default, the CryptoFactor is set to 0.8.
Let's see what happens over the next 48 hours.