Let's take a look in BTC for the whole year
Each of the major trends is identified using various indicators in 200 periods length + Volume Profile.
The trend is only confirmed by a break out according to the DOW theory.
That is why you see the confirmation date is LAGGED compared to the actual establishment of the trend.
Key takeaways on the DOW theory according to Investopedia.com:
- The Dow Theory is a technical framework that predicts the market is in an upward trend if one of its averages advances above a previous important high, accompanied or followed by a similar advance in the other average.
- The theory is predicated on the notion that the market discounts everything in a way consistent with the efficient markets hypothesis.
- In such a paradigm, different market indices must confirm each other in terms of price action and volume patterns until trends reverse.
Major Uptrends so far:
Major Downtrend so far:
The trend is only confirmed by a break out according to the DOW theory.
That is why you see the confirmation date is LAGGED compared to the actual establishment of the trend.
Key takeaways on the DOW theory according to Investopedia.com:
- The Dow Theory is a technical framework that predicts the market is in an upward trend if one of its averages advances above a previous important high, accompanied or followed by a similar advance in the other average.
- The theory is predicated on the notion that the market discounts everything in a way consistent with the efficient markets hypothesis.
- In such a paradigm, different market indices must confirm each other in terms of price action and volume patterns until trends reverse.
Major Uptrends so far:
- 1 Jan - 27 Feb
- 22 Apr- 27 Jun; Confirmation date: 30 Apr
- 18 Jul - 24 Sept; Confirmation date: 26 Jul
- 8 Oct - Unknown; Confirmation date: 22 Oct
Major Downtrend so far:
- 27 Feb - 22 Apr; Confirmation date: 11 Mar
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