Ethereum and Bitcoin Cryptocurrency Bollinger Bands and Moving Averages Correlation | Moses Simple Crypto Correlation Chart | AmiBrokerAcademy

26 July 2021

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We sometime bench mark two stock price action or stock price with index, but this time we benchmark two cryptocurrencies, Ethereum and Bitcoin. The following example, we benchmark two Information Technology key players, MSFT and INTC. Besides correlation we use other tools such as 1) Ichimoku Cloud, 2) Support Resistance (using box), 3) River (moving average), 4) GMMA and Woodies CCI, 5) Bollinger Bands and Moving Averages, and 6) MACD to analyze chart. See our simple reading of price action.

We also apply wave theory onto chart. Such as well know Elliott Waves. Just in case you are not familiar with Elliott Waves. Elliott was from Ralph Nelson Elliott.

Otherwise, we like to use pattern, such as ABCD pattern. Checkout our posting here for more.

We translate price action chart into layman language. This will help you in understand the financial instrument you are trading. We believe picture worth a thousand words. So, sometimes we use less words. You can learn the price action interpretation too. Give it a tray. You may not have the same view points as us. Remember all analysis read price action chart differently. It is just like reading an essay, we will have different conclusion.

Trade what you see. Manage your risk. Trade well.

1) Ethereum and Bitcoin Cryptocurrency Bollinger Bands and Moving Averages Correlation

We study price action we see Ethereum Crypto price action continues to go higher from the start of 2021 by after the peak in May price action begin to reverse. Price Action pullback and resisted by 20 MA. Bitcoin the first cryptocurrency price action struggle to stay above the high, but eventually pullback. Price Action pullback one month earlier than Ethereum. For Bitcoin the price action goes lower than 200 MA.

ETH

Price Action and moving averages:
ETH-USD, Ethereum crypto price action has closed above its Short time (20) moving average.
Short time (20 period) moving average is currently below mid-time (50), AND below long time (100) moving averages.
All three 20, 50 and 100 MA are above longer time (200 period) MA.
20 MA just touch the 200 MA.

Bollinger Bands:
ETH-USD, Ethereum price action has closed below upper band.
Bollinger Bands are narrower than normal.

Bitcoin

Price Action and moving averages:
BTC-USD Bitcoin Crypto has closed above its Short time (20) moving average.
Short time (20 period) moving average is currently below mid-time (50), AND below long time (100) moving average.
20, 50 and 100 MA are below longer (200 period) moving average.

Bollinger Bands:
BTC-USD Bitcoin cryptocurrency price action has closed below upper band.
Bollinger Bands are narrower than normal.
The narrow width of the bands suggests low volatility.

Remember, we just read what the chart said. Have fun!

20210724 Ethereum Crypto and Bitcoin Crypto Correlation

Moses Power Charting

Official AmiBrokerAcademy.com Charting

Disclaimer

The above result is for illustration purpose. It is not meant to be used for buy or sell decision. We do not recommend any particular stocks. If particular stocks of such are mentioned, they are meant as demonstration of Amibroker as a powerful charting software and MACD. Amibroker can program to scan the stocks for buy and sell signals.

These are script generated signals. Not all scan results are shown here. The MACD signal should use with price action. Users must understand what MACD and price action are all about before using them. If necessary you should attend a course to learn more on Technical Analysis (TA) and Moving Average Convergence Divergence, MACD.

Once again, the website does not guarantee any results or investment return based on the information and instruction you have read here. It should be used as learning aids only and if you decide to trade real money, all trading decision should be your own.

We learn from many past and present great traders. Kudo to these master.