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Trading Strategy: Golden Cross
Hey guys, Bisola here to provide you with an update on our golden cross strategy.
As some of you may remember, on Saturday I bought roughly £97 worth of Bitcoin, or $117 to my American subscribers, in trying to test a new strategy known as the golden cross strategy.
Here is my chart that we used to help us decide if we should test the strategy to begin with:
We can see how each golden crossing foreshadows a bull run and how each death cross a downturn.
As we were in the death cross phase, the hypothesis for our strategy was simple:
When a golden cross forms we will purchase Bitcoin because based on the historical behavior of this technical indicator, a uptrend should occur.
On Saturday, we then saw the formation of a golden cross:
Based on this, the next step of our strategy was then to purchase Bitcoin:
We’re Up 4%
The golden cross strategy appears to have worked like a charm as we are now up 4% on our trade:
A 4% return in just 3 days is incredibly impressive, especially when compared to traditional assets:
If we are able to piece together more strategies then we will be able to make a return regardless of the market conditions.
I will now close the current trade and move the golden cross strategy to our list of confirmed trading strategies, bringing it to a total of two:
Golden Cross Strategy
Price-action tends to happen at price points with round numbers e.g. $9k, 10k, 11k.
Make sure to keep an eye on your inbox for my post on Sunday as we’ll be testing a new strategy as well as figuring out what will happen to Bitcoin as it nears $11,000.
The goal with this newsletter and my market updates is so me and my subscribers can build a toolkit of trading strategies that we can use to make a return in crypto at any given time.
I test every single strategy and risk my own capital so you don’t have to. I let you know how the strategy performed and you can decide for yourself if you want incorporate it into your own strategy or not.
The posts and strategies I share are typically restricted to paid subscribers, but free members will get them until the 24th August so they can see the value.
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